Reference is made to the announcement dated 3 July 2024 in relation to a proposal to, inter-alia, establish and list a REIT. 

On behalf of the Company, Maybank Investment Bank Berhad wishes to announce that WCTH proposes to undertake the following: 

(a) proposed establishment of Paradigm REIT by WCTH, the sponsor (“Proposed REIT Establishment”);

(b) proposed disposal by the respective vendors of Bukit Tinggi Shopping Centre, Klang; Paradigm Mall, Petaling Jaya; and Paradigm Mall, Johor Bahru to Paradigm REIT for a total disposal consideration of RM2,437.00 million to be satisfied via the issuance of 1,600.00 million new undivided interest in Paradigm REIT (“Units”) and cash consideration of RM837.00 million (“Proposed Disposals”);

(c) proposed offering of up to 560.00 million Units comprising the proposed retail offering and the proposed institutional offering (“Proposed Offering”); and 

(d) proposed admission of Paradigm REIT to the Official List of the Main Market of Bursa Securities and the listing of and quotation for 1,600.00 million Units on the Main Market of Bursa Securities (“Proposed Listing”).

(The Proposed REIT Establishment, Proposed Disposals, Proposed Offering and Proposed Listing are collectively referred to as “Proposals”)

Please refer to the attachment for further details on the Proposals.

This announcement is dated 18 September 2024.