AmanahRaya REIT has comleted the disposal of asset Holiday Villa Beach Resort & Spa Langkawi for RM145 million, the transaction will see the group recognising a gaining of RM45 million which will be reflected in its FY2024.
Of the RM145 million transaction, the group has earmarked RM70 million for loan repayment. It will also its gross gearing improve to 43.5% on proforma basis compare to 45% of the audited total asset value as of 31 December 2022.
The group is currently realigning its asset portfolio to include high yielding assets in resilient sectors like education, wellness and industrial/logistics/ warehousing.
The 238 room 4 star beach resort was sold to Plenitude Berhad.
