Quill Capita Management Sdn Bhd (QCM), the manager of Quill Capita Trust (QCT) is in discussions with several parties to buy more commercial properties in the Klang Valley.

The firm already has four properties in its portfolio and is purchasing Wisma Technip and part of Plaza Mont’ Kiara for RM125 million and RM90 million, respectively.

The two acquisitions will be funded by placing up to 151.44 million new units, which has raised proceeds up to RM227 million. Also, recently unitholders have approved its plan to sell up to 251.44 million new units.

Once the placement of 151.44 new units is completed, the firm can still sell up to 100 million new units for other acquisitions. Chan said it may even have to borrow.

He said QCT is on track to double its asset size by year-end. With the deals, its asset size will just be 20 per cent shy of its year-end goal.

QCT manager Quill Capita Management Sdn Bhd chief executive officer Chan Say Yeong said, “At any one time, I must say there are one or two parties that are quite keen to have a deal with us. Of course, other than these two, there are other people who are interested.”

QCM has also signed an underwriting agreement with Aseambankers Malaysia Bhd, HwangDBS Investment Bank Bhd, Alliance Investment Bank Bhd and MIDF Amanah Investment Bank Bhd.