Boustead REIT launches Al-Hadharah Boustead REIT Prospectus
Early this year, Boustead REIT Sdn Bhd (Boustead REIT) launched the listing prospectus for the Al-Hadharah Boustead REIT, the first Islamic plantation REIT in the country. The prospectus provided pertinent information, particularly on the REIT structure and details of its initial public offering. It was launched by YB Senator Tan Sri Nor Mohamed Yakcop, Minister of Finance II, Malaysia on 15 January 2007 at The Royale Bintang Kuala Lumpur.
In his speech, Tan Sri Nor congratulated and commended the Boustead Group for this landmark issuance of the first Islamic plantation REIT. He said this initiative not only marks another significant milestone in the development of the Malaysian capital market, but will further enhance Malaysia's profile in international Islamic finance.
With 20 million issue unit available for the Malaysian public at the retail price of only RM0.99 per issue unit, the REIT, offers investors a unique and affordable opportunity to invest in the highly active and dynamic plantation sector.
YBhg Tan Sri Dato' Lodin Wok Kamaruddin, Chairman, Boustead REIT in his speech highlighted that at least 98% of the distributable earnings of the REIT are expected to be paid to unitholders for the first three financial years. He said it is also projected that the REIT will be well positioned to declare a dividend distribution of 7.38 sen for the next three years.