MRCB secures contract from Sentral REIT for car park operations

KUALA LUMPUR: Malaysian Resources Corp Bhd’s (MRCB) wholly-owned subsidiary Semasa Parking Sdn Bhd has secured a contract from Sentral Real Estate Investment Trust to operate car parks at Menara Shell and Platinum Sentral.

MRCB, in a filing with Bursa Malaysia yesterday, noted the contract is for three years at both locations. Under the agreement, the minimum guaranteed rental at Menara Shell and Platinum Sentral will be RM200,000 and RM95,000 respectively.

There will be a profit-sharing ratio between Sentral REIT and Semasa Parking of 90:10.

The fixed monthly revenue threshold of the Menara Shell car park will be RM242,000 a month and RM122,000 a month at Platinum Sentral.