BERNAMA.com - AmProp signs term sheet with Chelsfield to acquire office properties in China
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AmProp signs term sheet with Chelsfield to acquire office properties in China

Last update: 16/04/2018
 
KUALA LUMPUR, April 16 (Bernama) -- Amcorp Properties Bhd (AmProp) today signed an investment term sheet with Chelsfield Fund 1 Ltd Partnership to collaborate in the setting up of a joint-venture (JV) to acquire five floors of strata office properties in Shanghai, China (proposed co-investment).

In a filing to Bursa Malaysia today, AmProp said, the proposed co-investment, which its initial tenure was for four years, was part of the group's strategy to diversify its investment and develop portfolio on niche developments in high-growth international markets such as Shanghai.

AmProp said it intended to commit capital of up to RM66.19 million for a 35 per cent stake in the JV company.

-- BERNAMA

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