The Malaysian Chinese Association (MCA) has acquired the Menara Multi Purpose for $118.40 million, from Multi-Purpose Holdings (MPH), The Edge Malaysia reports. MPH expects to gain $63.11million from the deal and will use the proceeds to finance its debt

It is expected that MCA will make the payments in two installments within 30 and 90 days of the sale and purchase agreement. The building is 17 years old and has 99.07 percent occupancy with a monthly rental income of $0.66 million.

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