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NewsGenetec disposes land for RM4.7m (0104)
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Genetec disposes land for RM4.7m (0104)
by hlk Thu 06 Sep 2012, 22:44
Genetec Technology Bhd's 51 per cent owned subsidiary, CLT Engineering Sdn Bhd, has proposed to dispose of three pieces of
freehold industrial land together with factories in Petaling, Selangor, to Calton Marketing Sdn Bhd, for RM4.7 million.
In
a filing to Bursa Malaysia, Genetec said the proposed disposal is in
the best interest of the group in view that the proceeds raised will be
utilised for the group's working capital.
The proceeds will also strengthen the group's cash flow position, it added.
The disposal is expected to be completed by the fourth quarter of 2012. -- Bernama
freehold industrial land together with factories in Petaling, Selangor, to Calton Marketing Sdn Bhd, for RM4.7 million.
In
a filing to Bursa Malaysia, Genetec said the proposed disposal is in
the best interest of the group in view that the proceeds raised will be
utilised for the group's working capital.
The proceeds will also strengthen the group's cash flow position, it added.
The disposal is expected to be completed by the fourth quarter of 2012. -- Bernama
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