Titijaya Land agrees to sell Penang Logistics Hub 5 to Pelaburan Hartanah for RM 300 million
Bitget2026/10/28 10:13- Titijaya Land agreed on Oct. 28, 2026, to sell Penang Logistics Hub 5 to Pelaburan Hartanah for approximately RM 300 million.
- The three-story logistics complex in Bayan Lepas, Penang, spans approximately 300,726 square feet; DHL Properties (Malaysia)'s tenancy expires Oct. 14, 2034.
- The sale is expected to generate approximately RM 143 million in net gains, equivalent to 10.9 sen per share.
- Gearing is projected to decline to 0.06 times from 0.18 times; net proceeds will fund working capital, development and investments.
- Completion is expected in the first half of 2027, subject to transfer approval, tenancy novation and final floor-area verification.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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