Singapore – Mapletree Industrial Fund Ltd (“MIF”) is pleased to announce today that it has signed two separate agreements with two related Malaysian investment and construction companies, Tangkai Jaya Sdn Bhd and Setegap Jaya Sdn Bhd, to acquire their four properties at the Tampoi Industrial Estate for RM61.5 million (S$27 million) on a sale and leaseback arrangement.

The properties consist of four double-storey purpose-built detached factory buildings with a total Gross Floor Area (GFA) of approximately 406,250 square feet. Each of the four properties is sub-leased to individual tenants, namely Enplas Precision (M) Sdn Bhd, MCE Technologies Sdn Bhd and Celestica Electronics (M) Sdn Bhd, with Celestica Electronics occupying 2 buildings.

One of the more established industrial estates in Johor Bahru, the Tampoi Industrial Estate enjoys good access to road, sea and air transport nodes. The properties are located 10 kilometres north of Johor Bahru City Centre; while the Senai Airport and the Port of Tanjung Pelepas are just a 30-minute drive away.

Mr Phua Kok Kim, CEO of Mapletree Industrial Fund Management Pte Ltd (“MIFM”) said, “This acquisition has enabled the MIF to increase its portfolio of good quality industrial assets in Malaysia, thus highlighting our commitment towards growing the MIF into a pan-Asian industrial fund.”

“The properties are well positioned to benefit from their location within the burgeoning Iskandar Development Region, which forms the nucleus of a dynamic economic and growth region in Malaysia’s southern region,” he added.