Mapletree Logistics Trust (SGX:M44U) will divest three properties in Malaysia for a total of 157.5 million ringgit, according to a Tuesday filing on the Singapore Exchange.
The properties-Linfox, Celestica Hub, and Zentraline-are being sold through separate conditional agreements with third-party buyers.
Linfox, located in Shah Alam, will be sold for 72 million ringgit, 28.6% above its latest valuation. Celestica Hub in Senai is set to be sold for 43.2 million ringgit, 2.9% above its valuation. Zentraline, also in Shah Alam, will be sold for 42.3 million ringgit, 1.9% above its valuation.
The sales align with Mapletree Logistics Trust's strategy to develop its portfolio and are expected to be completed by FY24/25.
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