The initial public offering (Offering) comprises a retail offer and an institutional offer, with a combined total of 509,599,000 units available under the Offering. A total of 29,999,000 units will be offered to the Malaysian Public under the retail offer (Retail Offer) and the remaining 479,600,000 units will be available to Malaysian and foreign investors under the institutional offer (Institutional Offer).

The final retail price (rounded up to the nearest sen) will be the lower of the retail offer price of RM0.98 per unit (Retail Offer Price) or 95% of the institutional offer price, to be determined by way of bookbuilding.

Starhill REIT has an approved valuation of RM1.15 billion and comprises YTL’s prime properties situated in Bukit Bintang, namely Lot 10 Shopping Centre, the newly-refurbished Starhill Gallery and the adjoining JW Marriott Hotel Kuala Lumpur. 

 Potential investors are expected to benefit from the stable distributions and future growth of rental rates generated by the aforesaid properties of Starhill REIT. Based on a Retail Offer Price of RM0.98 per unit, the forecast gross yield for Starhill REIT is as follows:-

Starhill REIT’s principal investment strategy is to invest in a diversified portfolio of income-producing real estate, used primarily for retail, office and hospitality purposes, with particular focus on retail and hotel properties. The primary objectives of Starhill REIT are to provide unitholders with stable cash distributions with the potential for sustainable growth, principally from the ownership of properties, and to enhance long-term unit value.

Starhill REIT was established by a trust deed entered into on 18 November 2005 between Pintar Projek Sdn Bhd (a subsidiary of YTL Corp) and Mayban Trustees Berhad, as manager and trustee, respectively, of Starhill REIT.

INDICATIVE TIMETABLE

The indicative timing of events leading up to the listing of and quotation for Starhill REIT on Bursa Securities is set out below:-

Investors interested in subscribing for units under the Retail Offer can obtain copies of the Prospectus and application forms from their brokers or remisiers, or by contacting one of the following:-

Pintar Projek Sdn Bhd

The Unit Registrar, 11th Floor, Yeoh Tiong Lay Plaza, 55 Jalan Bukit Bintang, 55100 Kuala Lumpur, Malaysia          

Telephone No: +603 2117 0088 extension 8651

AmMerchant Bank Berhad

CF Administration Department, 22nd Floor, Bangunan AmBank Group, 55, Jalan Raja Chulan, 50200 Kuala Lumpur, Malaysia     

Telephone No: +603 2078 2633 / 44 / 55 extension 6488

Institutional Investors interested in subscribing for units under the Institutional Offer can contact the following:-

ECM Libra Securities Sdn Bhd

1st, 2nd & 3rd Floor Wisma Genting, Jalan Sultan Ismail, 50250 Kuala Lumpur, Malaysia

Telephone No: +603 2178 1888

DBS Bank Limited    

6 Shenton Way, DBS Building Tower One, Singapore 068809          

 Telephone No: +65 6878 8888

 Hongkong Shanghai Banking Corporation Limited

 21, Collyer Quay, #14-01 HSBC Building, Singapore 049320

Telephone No: +65 6530 5000          

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