CapitaMalls' RM1.0 bln fund proposal is not yet final

CMA clarifies the details of the billion ringgit proposal in response to a story published by The Business Times on 17 July.

In an announcement on Tuesday, CapitaMalls Asia Limited (CMA), referring to The Business Times article published on 17 July 2010 titled "CMMT makes debut, looks to long-term resilience," said the details of the proposed RM1.0 billion fund targeted to be created in a year's time have not been finalised, including CMA's sponsor stake size and the other co-investors.

CMA said the RM1.0 billion fund is likely to be a development or incubator fund and is intended to provide CapitaMalls Malaysia Trust (CMMT) with a pipeline for acquisition.

CMA said it will make further announcement once the proposal has been finalised.