Malaysia

Legal framework of REITs

Christopher Lee (christopher.lee@wongpartners.com) and Fiona Sequerah. (fiona.sequerah@bakernet.com),Wong & Partners, Kuala Lumpur, Malaysia (A Member of Baker & McKenzie International)

The Securities Commission’s Guidelines on Real Estate Investment Trusts (3rd edition) came into effect on 3 January 2005. The guidelines set out the regulatory framework within which real estate investment trusts (REITs) are required to operate. REITs, already in existence as at 3 January 2005, were given one month to apply to the Securities Commission for approval of a transitional period to comply with the guidelines.