CapitaMalls Asia to acquire mall in Penang for S$275.6 mln

Reuters, 22 Dec 2010Dec 22 (Reuters) - CapitaMalls Asia , a unit of Southeast Asia's largest property developer CapitaLand , said on Wednesday it will acquire a mall in Penang, Malaysia, for S$275.6 million ($209.9 million). The firm said Queensbay Mall, its fourth in Malaysia, will form the seed asset for its planned 1 billion ringgit ($319 million) Malaysia retail property fund. Full story