WCT Formalises RM2.44 Billion Paradigm REIT Plans
WCT Formalises RM2.44 Billion Paradigm REIT Plans
Management of the REIT will be handled by Paradigm REIT Management Sdn Bhd, an entity jointly controlled by WCT, with Henry Butcher Malaysia acting as the property manager. WCT's proceeds from the disposal will total RM1.40 billion, of which RM838 million will be allocated to repay borrowings within the next year.WCT Holdings Berhad has announced further details on its plan to establish the Paradigm Real Estate Investment Trust (REIT). The company plans to dispose of three of its shopping malls to the newly formed Paradigm REIT for a total value of RM2.44 billion. The malls include Bukit Tinggi Shopping Centre in Klang, Paradigm Mall Petaling Jaya, and Paradigm Mall Johor Bahru. These assets are expected to generate significant interest in the REIT market.
WcT Holdings Berhad宣佈了有關其建立範式房地產投資信託基金（REIT）計劃的更多細節。該公司計劃將其三個購物中心出售給新成立的Paradigm REIT，總價值爲24.4令吉。這些購物中心包括巴生的武吉丁宜購物中心、八打靈再也的範式購物中心和柔佛新山的範式購物中心。預計這些資產將引起房地產投資信託基金市場的濃厚興趣。
MIDF Stock Broking House have maintained a NEUTRAL outlook for WCT Holdings, with the stock's target price unchanged at RM0.97. This valuation is based on FY25F earnings per share of 5.4 sen, pegged to a price-to-earnings ratio of 18 times. The REIT listing, while not expected to impact immediate projections, is seen as a strategy for WCT to manage its debt. The company's balance sheet will benefit from proceeds, allowing it to reduce net gearing from 0.72x to 0.33x.
MIDF股票經紀公司對WcT Holdings的展望保持中立，該股的目標價格維持在0.97令吉不變。該估值基於 FY25F 的每股收益 5.4 仙，與 市盈率 共有 18 次。房地產投資信託基金的上市雖然預計不會影響近期的預測，但被視爲WcT管理其債務的策略。該公司的資產負債表將受益於收益，使其能夠將淨資產負債從0.72倍減少到0.33倍。
The Paradigm REIT will raise funds through a combination of cash and unit issuance. Approximately RM837 million will come from medium-term notes (MTN) under a newly established programme, while 1.60 billion new units will be issued at RM1 per unit. WCT is expected to hold a 60.7% stake in Paradigm REIT, securing continued exposure to the three malls through dividends and management fees.
Paradigm REIT將通過現金和單位發行相結合的方式籌集資金。根據一項新設立的計劃，大約83700萬令吉將來自中期票據（MTN），而16個新單位將以每單位1令吉的價格發行。預計WcT將持有Paradigm REIT60.7％的股份，通過分紅和管理費確保對這三個購物中心的持續敞口。
Management of the REIT will be handled by Paradigm REIT Management Sdn Bhd, an entity jointly controlled by WCT, with Henry Butcher Malaysia acting as the property manager. WCT's proceeds from the disposal will total RM1.40 billion, of which RM838 million will be allocated to repay borrowings within the next year.
房地產投資信託基金的管理將由Paradigm REIT Management Sdn Bhd負責，該實體由WcT共同控制，馬來西亞亨利·布徹擔任物業經理。WCT的處置收益總額將爲14令吉，其中83800萬令吉將在明年內用於償還借款。
The listing of Paradigm REIT is anticipated to attract attention from institutional and retail investors, with 35% of the units being offered for sale. Institutional investors will be offered up to 305.3 million units, while retail investors can acquire up to 254.7 million units. WCT's move to list its assets is expected to take place by the first quarter of 2025, pending approval from relevant authorities, including the Securities Commission (SC).
預計Paradigm REIT的上市將吸引機構和散戶投資者的關注，其中35％的單位將出售。將向機構投資者提供高達30530萬個單位，而散戶投資者最多可以收購25470萬個單位。WCT的資產上市舉措預計將在2025年第一季度進行，尚待包括證券委員會（SC）在內的相關機構的批准。
譯文內容由第三人軟體翻譯。