Regal Path Secures Syndicated Banking Facilities of RM1.1 Billion for Pavilion Bukit Jalil Mall

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Kuala Lumpur, 18 October 2019 – Regal Path Sdn Bhd (Regal Path) has secured
syndicated banking facilities of up to RM1.1 billion for the acquisition of Pavilion
Bukit Jalil mall from Pioneer Haven Sdn Bhd, a wholly-owned subsidiary of Malton
Berhad (Malton). The iconic Pavilion Bukit Jalil mall being one of the country’s largest
regional shopping hubs, is part of the 50-acre Bukit Jalil City integrated lifestyle
project in the southern corridor of Klang Valley developed by Malton.

On 10 October 2019, Regal Path inked the facilities agreement with four banks,
namely CIMB Bank Berhad, Malayan Banking Berhad, OCBC Bank (Malaysia) Berhad
and United Overseas Bank (Malaysia) Berhad at Pavilion Hotel Kuala Lumpur. The
four banks are also the Joint Mandated Lead Arrangers (JMLA). The syndicated
banking facilities will be utilised to finance the acquisition of the Pavilion Bukit Jalil
mall. The Facility Agent and Security Agent is OCBC Bank (Malaysia) Berhad and CIMB
Bank Berhad respectively.

Regal Path is a joint venture company of Malton’s wholly-owned subsidiary Khuan
Choo Realty Sdn Bhd, Qatar Investment Authority’s (QIA) wholly-owned subsidiary Q
PBJ Sdn Bhd, and Tan Sri Desmond Lim via his private vehicle Jelang Tegas Sdn Bhd.
On 28 May 2019, the three strategic investors entered into a Subscription Agreement
with Regal Path to participate in the ownership of Pavilion Bukit Jalil mall.

“Today marks a momentous milestone. The signing of this agreement will enable
Regal Path to secure funding for the acquisition of Pavilion Bukit Jalil mall. We are
indeed honoured and pleased with the syndicated credit facilities offered by the four
banks. The syndicated credit facilities granted by all the banks underscore the
lenders’ strong support and confidence in the solid partnerships and business
prospects of the stakeholders involved in the Pavilion Bukit Jalil mall landmark
transaction,” according to Regal Path.

“We are proud to be the key financial partners for this landmark project. We are
confident that with the strategic partnership between Tan Sri Desmond Lim of
Pavilion Group and Qatar Investment Authority, and leveraging on the strong
expertise of Pavilion as the retail manager, Pavilion Bukit Jalil mall will be another
key shopping destination for both the local community and foreign tourists alike,
similar to highly successful and award-winning Pavilion KL,” according to the Joint
Mandated Lead Arrangers.

“Albeit the prevailing tough market conditions, the successful closure of this billion
ringgit syndication signifies the confidence by the syndicate banks in the combination
of the best expertise and the able leadership of the Sponsors in delivering yet
another iconic destination mall. We are confident that the Sponsors would be able to
rejuvenate Bukil Jalil into an integrated cosmopolitan lifestyle development and a
destination to be reckoned with in the near future,” added the Joint Mandated Lead
Arrangers.

The partnership with QIA in Pavilion Bukit Jalil mall is the latest example of QIA
investing in high-end, world-leading retail outlets and real estate across the globe.
QIA’s participation is indeed a testimony of QIA’s confidence not just in the projects
managed under ‘Pavilion’ brand, but Malaysia as a stable and high potential
investment destination. The solid and long-term partnership signifies their combined
efforts to drive the nation’s economy forward.

Slated for completion by March 2021, Pavilion Bukit Jalil mall being the crown jewel
of Bukit Jalil City is poised to be an entertainment and retail hub in the southern
corridor of Klang Valley. Tapping into the retail expertise of retail management team
from Pavilion KL, an award-winning and Malaysia’s most successful mall, the Pavilion
Bukit Jalil mall will feature a good mix of retailers thereby attracting a steady pool of
local and international visitors.

With an estimated net lettable area of 1.8 million square feet, the iconic Pavilion
Bukit Jalil mall will be one of the country’s largest regional shopping hubs that will
rejuvenate Bukit Jalil into a vibrant destination for business, best-in-class shopping
experience, dining, leisure and entertainment hub to both local and tourists alike.
Fronting the lush Bukit Jalil recreational park, the 50-acre of prime freehold land
Bukit Jalil City comprises Pavilion Bukit Jalil mall, Signature Shop Offices, The Park Sky
Residence, The Park 2 and a hotel. The four-tower blocks of The Park Sky Residence,
the first residential component, will be completed and delivered to purchasers by
end of this year.