BTM’s unit sells boiler for RM4.2M

Business & Markets 2013
Written by Charlotte Chong of theedgemalaysia.com
Monday, 29 April 2013 18:57
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KUALA LUMPUR (APRIL 29): BTM RESOURCES BHD []’s unit, Besut
Tsuda Wood Products Sdn Bhd, has entered into a sales agreement
with Khas Promosi Sdn Bhd to sell a boiler to the latter for RM4.2
million.
In a filling to Bursa Malaysia today, BTM Resources said that the
proposed disposal is not expected to have any material effect on the
earnings per share and net asset per share of BTM group for the
financial year ending Dec 31, 2013.
“The plant and machinery is currently not in used by BTWP, the disposal
will enhance the cash flow position of the company,” it said.
BTM Resources said that a payment of 10% of the purchase price has
been made to the subsidiary upon execution of the assets sale
agreement today.
“The balance of 90% of the purchase price will be paid on no later than
six months from the date of agreement,” said BTM Resources.