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AMMB Unit Buys Menara AmBank for MYR331 Million

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AMMB (KLSE:AMBANK) unit AmBank (M) agreed to acquire Menara AmBank skyscraper and its related assets for 331 million ringgit, according to an Monday Malaysian bourse filing.

Menara AmBank, a 46-story office tower in Kuala Lumpur's Golden Triangle, will be purchased in cash, with 23.2 million ringgit paid as a deposit, and 9.9 million ringgit retained for real property gains tax. The rest of the payment will be made once key approvals are obtained, including from AmFIRST REIT unitholders and the Ministry of Economy.

AMMB said the acquisition will secure long-term occupancy for AmBank, which already uses about 66% of the building as its anchor tenant, while also offering expansion flexibility.

The deal is slated for completion in the fourth quarter of 2026, it said.

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