PETALING JAYA: Axis Real Estate Investment Trust’s (Axis-REIT) trustee, RHB Trustees Bhd has entered into a sale and purchase agreement to acquire an industrial complex, from Amsteel Mills Sdn. Bhd. (AMSB) for a cash consideration of RM49mil.
In a statement, Axis-REIT said AMSB will lease back the industrial complex for a period of six years at the starting rental of RM285,833.33 per month.
The industrial complex is currently wholly and fully occupied by AMSB, involved in the manufacturing and marketing of steel bars and wire rods.
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