Mapletree Logistics Trust to divest three Malaysian properties for $47.7M

Mapletree Logistics Trust Management Ltd. (MLT) has announced plans to divest three properties in Malaysia, with a total sale value of $47.7 million (MYR 157.5 million). This move aligns with MLT’s strategy of refining its portfolio by offloading selected assets.

The divestments will be executed through MLT’s special purpose vehicle in Malaysia and are expected to increase financial flexibility, enabling future investments in modern, high-spec logistics facilities with stronger growth potential.

Among the properties being sold is Linfox in Shah Alam, Selangor, a warehouse and office space covering 17,984 square metres. The property will be sold for $21.6 million (MYR 72 million), which represents a 28.6% premium over its most recent valuation.

The second property, Celestica Hub in Senai, Johor, consists of two warehouses with a total area of 22,304 square metres. It will be sold for $12.98 million (MYR 43.2 million), 2.9% above its valuation.

The third property, Zentraline, also located in Shah Alam, is a 14,529-square-metre warehouse and office facility that will be sold for $12.71 million (MYR 42.3 million), reflecting a 1.9% premium.

The divestments are anticipated to be finalized by the financial year 2024/25. MLT has confirmed that the transactions will not materially affect the trust’s net asset value or property income for the financial year.

Following the completion of these sales, MLT’s portfolio will consist of 182 properties across the Asia-Pacific region.