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BackNov 02, 2017
Type | Announcement | |||||||||||||||
Subject | OTHERS |
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Description |
MALAYSIA AIRPORTS HOLDINGS BERHAD (Malaysia Airports) - PROPOSED SUBLEASE OF 7.02 ACRES OF VACANT LAND IN SUBANG FORMING PART OF A FREEHOLD LAND (MASTER LAND) TO RHB TRUSTEES BERHAD AS TRUSTEE FOR AXIS REAL ESTATE INVESTMENT TRUST (AXIS-REIT) (PROJECT LAND). |
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1. INTRODUCTION MAHB wishes to make announcement pertaining to the sublease of the Project Land (Proposed Sublease) from MAHB to RHB Trustees Berhad, the trustee of Axis Real Estate Investment Trust (Axis-REIT) (Trustee), for Axis-REIT to construct a single-storey manufacturing plant cum office building with a gross built-up area of approximately 178,978.60 square feet (sq ft) (Gross Built-Up Area) inclusive of ancillary buildings and external elements to serve the operation of the manufacturing plant for manufacturing, storage and distribution of aerospace parts, on the Project Land for Upeca Aerotech Sdn Bhd. The sublease is expected to position Subang airport landside development of aerospace related activities, and to enhance the land value and value proposition in Subang (Proposal). 2. DETAILS OF THE PROPOSAL 2.1 Proposed Sublease Salient details of the Proposed Sublease are as follows:
3. INTERESTS OF THE DIRECTORS AND/OR MAJOR SHAREHOLDERS OF MAHB AND/OR PERSONS CONNECTED TO THEM None of the directors and major shareholder of MAHB and/or persons connected to them has any interest, direct or indirect, in the Proposal. 4. DIRECTORS’ STATEMENT The Board, having considered all aspects of the Proposal and after careful deliberation, is of the opinion that the Proposal is in the best interest of MAHB. This announcement is dated 2 November 2017. |
Announcement Info
Company Name | MALAYSIA AIRPORTS HOLDINGS BERHAD |
Stock Name | AIRPORT |
Date Announced | 02 Nov 2017 |
Category | General Announcement for PLC |
Reference Number | GA1-02112017-00002 |