The exercise involving disposal and diversification plans is also part of its corporate strategy to increase its stake in Furniweb, according to a statement on Friday (April 28).
The Parkson group set foot in Vietnam in 2005 and developed a premium shopping mall chain in the major cities of Ho Chi Minh City, Hanoi and Haiphong.
The stamp duty, announced by Singapore's Ministry of National Development, is a property cooling measure to dampen investment demand and prioritise housing for locals meant for owner-occupation.
Its portfolio occupancy improved to 89.
Sunway REIT chief executive officer Datuk Jeffrey Ng Tiong Lip: “Sunway REIT has recovered well from Covid-19 pandemic.
The disposal of the freehold land, measuring 32.
The trust aims to grow its asset value to between RM14 billion and RM15 billion by 2027, from RM9.
There are various laws that are applicable to the housing development, but there are still weaknesses in the control, implementation and enforcement of these laws.
In a note, Nomura analysts Tushar Mohata and Alpa Aggarwal said the sale was a very positive development for the company and its parent, Genting Bhd.
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