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Friday, December 10, 2010

Bolton agrees to sell Campbell Complex

BOLTON Bhd has agreed to sell its 20-storey commercial complex known as Campbell Complex to Shapadu Resources Sdn Bhd for RM50 million.

The deal means selling its 100 per cent stake in Lim Thiam Leong Realty Sdn Bhd which owns the complex in Kuala Lumpur.

The sale is in line with its plan to sell non-core assets and investments that do not yield reasonable returns.

It will use the RM3.16 million gain from the sale to to repay bank borrowings and as working capital.

By Business Times

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