KFC Holdings (M) Bhd (KFCH) has acquired an aggregate of 4.617 million units of Al -’Aqar KPJ REIT (KPJ REIT) for RM4.864 million from the open market on Wednesday.
In a filing to Bursa Malaysia yesterday, KFCH said the purchase consideration was funded via internally-generated funds and that the company would not assume any liabilities from the
vendors.
It said the rationale for the acquisition was a better return on investment of about 7.3% as against the current fixed deposit interest rate of about 2.5% to 3%.
KFCH also said opportunity of capital appreciation was likely, given KPJ REIT’s future acquisition plans and stable income stream from the tenants of its properties.
The company noted the acquisition would not have any material effect on earnings of the KFCH group for the year ending Dec 31, 2010, adding it was expected to contribute to future earnings of the group.
Written by Kay
The Edge Malaysia
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Another valuable advise by KYY on investing in share market.
*How can I make so much money from the stock market? Koon Yew Yin*
Author: Koon Yew Yin | Publi...
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