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KUALA LUMPUR (Jan 12): Hap Seng Consolidated Bhd is buying three adjoining parcels of industrial land with buildings in Labuan for a total of RM205.25 million.
“The proposed acquisition in the Federal Territory of Labuan represents a long-term strategic investment opportunity of a servicing centre supporting the offshore oil and gas industry in the region,” said Hap Seng Consolidated in a filing to Bursa Malaysia yesterday.
The land, with a lease tenure of 20 years and expiring on March 31, 2032, has a total rental income per month of RM537,200.
Based on the said purchase consideration and rental income of both the said lands, of which 100% of the total land area has been leased out, and the said buildings, of which 65% of the total net lettable area has been leased out, the current average gross yield is 5.1% per annum. ....

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