Mapletree Logistics Trust (SGX:M44U) entered into a conditional sale and purchase agreement with an unrelated third party to divest its Subang 2 property in Malaysia for 31.5 million ringgit, a filing with the Singapore Exchange said on Friday.
The property, which is located in Selangor, comprises a single-story warehouse and an annex three-story office with a building and has a net lettable area of 8,297 square meters.
The divestment is expected to complete in the first half of the year and is part of the trust's strategy to rejuvenate its portfolio through the divestment of assets that are not allied with its long-term strategy.
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