PENANG: Amanah Raya Bhd (ARB) has set an ambitious target this year of tripling the size of its listed property trust AmanahRaya REIT to RM2 billion, from RM641 million as at December 2007. The REIT’s manager, AmanahRaya-JMF Asset Management Sdn Bhd, said it planned to acquire assets from local listed companies and was in talks with several parties for possible acquisitions. He also said the Amanah Raya REIT did not plan to acquire assets abroad, as most of its foreign unitholders insisted the REIT remained focused on the country, arguing that they already had global REIT exposure.
(7-1-2008 The Edge)
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