Alpha Real Estate Investment Trust has decided to requisition and convene a unitholder’s meeting where a special resolution to terminate and wind-up Alpha REIT was passed. The winding-up process will entail the divestment of all the assets and properties of Alpha REIT in accordance with the Trust Deed of Alpha REIT and the Securities Commission Malaysia’s REIT Guidelines.
The realtor said the implementation plan for the winding-up process will be prepared by an appointed advisor, in consultation with the Trustee and Manager of Alpha REIT, subject to EPF’s approval. Since its inception in 2017, Alpha REIT has successfully grown to deliver market-leading total returns and yield in excess of 6% in FY2021. The Board and Management of the Manager of Alpha REIT have relentlessly pursued excellence in managing and growing the portfolio and which resulted in Alpha REIT successfully outperforming the market whilst mitigating headwinds of the last 2 years due to the Covid-19 pandemic.
This decision to terminate and wind up the Alpha REIT has been taken by the EPF of its own will and at its sole discretion. The existing long-term leases/tenancy of Alpha REIT’s assets will remain intact throughout the divestment process and should not have any impact on the operations of the schools.
