<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on October 11, 2017 - October 17, 2017</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Sunway Real Estate Investment Trust’s (Sunway REIT) proposed acquisition of Sunway Clio Property from Sunway Bhd for RM340 million is fair and reasonable, and not detrimental to the minority shareholders, says independent adviser AmInvestment Bank Bhd.</p></div>

<div class=newsTextDataWrapInner><p>“We recommend that you vote in favour of the resolution pertaining to the proposed acquisition to be tabled at the forthcoming unitholders’ meeting,” AmInvestment said in a circular to Sunway REIT’s shareholders yesterday.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The investment bank said the acquisition will not result in exposure to a new portfolio segment, but rather lead to an increased exposure to its existing hotel and retail segments.</p></div>

<div class=newsTextDataWrapInner><p>On Aug 3, Sunway REIT announced the proposed acquisition of Sunway Clio as part of its strategy to invest in properties that are yield-accretive with the potential to contribute to long-term growth.</p></div>

<div class=newsTextDataWrapInner><p>Sunway Clio consists of a 27-storey building that includes a four-star hotel, retail space and multistorey car park, which is erected on 77,403 sq ft of leasehold land.</p></div>

<div class=newsTextDataWrapInner><p>The group said that following the acquisition, its portfolio will increase to 16 properties with 13,602 sq ft of gross floor area that is valued at RM7.13 billion.<br />
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KUALA LUMPUR: Sunway Real Estate Investment Trust’s (Sunway REIT) proposed acquisition of Sunway Clio Property from Sunway Bhd for RM340 million is fair and reasonable, and not detrimental to the minority shareholders, says independent adviser AmInvestment Bank Bhd.

“We recommend that y...

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