PETALING JAYA: AmFIRST real estate investment trust (AmFIRST-REIT) unit holders approve the proposed RM331mil disposal of Menara AmBank, paving the way for the REIT to pursue new acquisitions in the healthcare, industrial, logistics and education sectors.

AmREIT Managers Sdn Bhd chief executive officer Chong Hong Chuon said the disposal would reduce AmFIRST-REIT’s gearing to about 33% from 46% or 47%, providing the REIT with a healthier balance sheet to pursue its portfolio diversification strategy.

“The first part of rationalisation, I think we are done with the disposal.

“So then we now go for diversification,” he told a press conference following AmFIRST-REIT’s annual meeting and EGM yesterday.

Chong said the REIT had been actively scouting for investment opportunities even before the disposal and had evaluated various property subsectors. — Bernama