CapitaLand's Ascott denies it's considering a REIT listing in Malaysia
KUALA LUMPUR -(Dow Jones)- The hospitality unit of CapitaLand Ltd. (C31.SG), The Ascott Ltd., said Friday it isn't looking to list a real estate investment trust in Malaysia.
The comment comes after the New Straits Times reported Wednesday that Ascott may group its Malaysian assets and list them on the local stock exchange. The report cited Ascott's regional manager for Singapore and Malaysia, Tan Boon Khai.
The report also said Ascott was considering placing those assets with Singapore-listed Ascott Residence Trust (A68U.SG), and cited Tan as saying "we are still looking at a REIT in Malaysia but the current market is not conducive for us to launch one now."
Ascott Residence Trust has the right of first refusal to acquire Ascott's "operating serviced residences in Pan-Asia and Europe and this includes our operating serviced residences in Malaysia," the company said Friday.
-By Jason Ng, Dow Jones Newswires