Tebrau Teguh to dispose land for RM28m

Tebrau Teguh Bhd has entered into two sales and purchase agreements with
two different companies to dispose of four plots of commercial land for
a total cash consideration of RM28.269 million.

In a filing to Bursa Malaysia, the company said on Sept 30, 2011, its
wholly-owned
subsidiary Bayou Bay Development Sdn Bhd (BBDSB) entered into an
agreement with Delta Bestari Sdn Bhd to dispose of two plots of land
totalling 0.866 ha for RM6.708 million.

On Jan 6, BBDSB agreed to dispose of two plots of land totalling 3.29 ha
to Northstar Frontier Sdn Bhd for RM21.561 million.

All the land plots are located in the mukim of Plentong, Johor Baharu,
Tebrau Teguh said, adding the disposal will generate faster cash inflow to be
used as working capital for the company's other projects.

It said the first disposal's gain has been reflected in the last financial
year ended Dec 31, 2011.

"The second disposal is expected to have a significant effect on the
company's earnings for the current financial year, with the earnings expected
to increase by RM12.88 million in total," it said. -- Bernama