PLife – BT

PLife Reit’s Japan properties unaffected

IN AN update, the manager of Parkway Life Real Estate Investment Trust (PLife Reit) said yesterday that all its 30 properties in Japan were unaffected by the earthquake and tsunami that hit the nation last month.

‘The manager, together with our Japan asset managers and operators, have conducted further checks on our properties in Japan. We are pleased to confirm that none of our Japan properties have been structurally affected and that business at all 30 properties continue to be in operation,’ Parkway Trust Management said in a release to the Singapore Exchange (SGX) yesterday, adding that it will continue to monitor the situation.

In an earlier statement to SGX on March 13, PLife Reit’s manager noted that most of the Reit’s Japan properties are located in the Kansai and Kyushu regions, which are relatively less affected.

‘Our nearest property to the nuclear plant site (is) at least 200 kilometres away,’ it said.

Separately, it was also announced to SGX yesterday that Pulau Memutik Ventures Sdn Bhd had acquired the total issued share capital of Integrated Healthcare Holdings (IHH) from Malaysia’s sovereign wealth fund Khazanah Nasional Bhd on March 29. IHH – via indirect wholly owned subsidiaries Parkway Trust Management and Parkway Investments – holds around 216.81 million units of PLife Reit. As such, Pulau Memutik holds a deemed stake of 35.84 per cent in PLife Reit.