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NewsToyo Ink to gain RM3.1m from sale of properties by subsidiaries
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Toyo Ink to gain RM3.1m from sale of properties by subsidiaries
by hlk Thu 09 Jan 2014, 20:31
Business & Markets 2014
Written by Ho Wah Foon of theedgemalaysia.com
Thursday, 09 January 2014 19:16
A + A - Reset
KUALA LUMPUR (Jan 9):Toyo Ink Group Bhd (TIGB) announced that its wholly
owned subsidiaries, Toyo Ink Sdn Bhd and Toyo Photo Products Sdn Bhd,
have entered into an agreement with Shen & Sons Sdn Bhd to sell their
properties for RM5.9 million.
It said the proposed disposal will result in a net gain of RM3.1 million to the
TIGB Group.
“The proposed disposal is expected to contribute positively to the consolidated
net assets, earnings and net gearing position of TIGB Group for the current
financial year ending 31 March 2014 through recognition of profit from disposal
and improvement in cash position,” said TIGB.
The proceeds from the disposal would provide future cash flows for the group’s
working capital and repayment of borrowings, it said.
Written by Ho Wah Foon of theedgemalaysia.com
Thursday, 09 January 2014 19:16
A + A - Reset
KUALA LUMPUR (Jan 9):Toyo Ink Group Bhd (TIGB) announced that its wholly
owned subsidiaries, Toyo Ink Sdn Bhd and Toyo Photo Products Sdn Bhd,
have entered into an agreement with Shen & Sons Sdn Bhd to sell their
properties for RM5.9 million.
It said the proposed disposal will result in a net gain of RM3.1 million to the
TIGB Group.
“The proposed disposal is expected to contribute positively to the consolidated
net assets, earnings and net gearing position of TIGB Group for the current
financial year ending 31 March 2014 through recognition of profit from disposal
and improvement in cash position,” said TIGB.
The proceeds from the disposal would provide future cash flows for the group’s
working capital and repayment of borrowings, it said.
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