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Friday, December 18, 2009

Equine Capital unit sells Selangor land for RM28m

EQUINE Capital Bhd’s subsidiary is selling a 4.7ha plot of land in Selangor to Tanjung Balai Development Sdn Bhd for RM28 million.

The company said the sale was part of strategy to get rid of non-core assets and streamline its businesses.

Proceeds would be used to reduce borrowings and to provide working capital.

Taman Equine (M) Sdn Bhd will use RM10 million to repay debt while another RM18 million will be for working capital.

By Business Times

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