EPF OFFERS TO BUY OFFICE BUILDING FOR RM347 MILLION
PETALING JAYA: WCT Holdings Bhd’s 70%-owned Jelas Puri Sdn Bhd has accepted a letter of offer from the Employees Provident Fund (EPF) to acquire an office building known as The Ascent for RM347 million. In a filing with the stock exchange, WCT said the offer comes with a leaseback arrangement on the property following the completion of the acquisition. Pursuant to the terms of the letter of offer, Jelas Puri and EPF have agreed to an exclusivity period of three months to enter into a sale and purchase agreement for the transaction. EPF owns a 30% stake in Jelas Puri.