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MKH to dispose of non-core businesses
by hlk Thu 29 Dec 2011, 21:22
MKH Bhd (formerly known as Metro Kajang Holdings Bhd) has announced the proposed disposal of Makin Jernih Sdn Bhd and
its
subsidiaries, Chau Yang Farming Sdn Bhd (CYF), Tip Top Meat Sdn Bhd
(TTM) and AA Meat Shop Sdn Bhd (AAM), to Charoen Pokphand Foods
(Malaysia) Sdn Bhd for RM64.0 million.
The proposed disposal is
in line with MKH Group's objective of disposing of its non-core
businesses and focusing on its core businesses in property development,
property investment, construction and oil palm plantations, MKH said in a
filing to Bursa Malaysia.
CYF is involved in livestock farming
and oil palm cultivation, TTM in food processing and trading, and AAM
in trading of food and meat-related products.
The proposed
disposal will enable the Group to raise proceeds for the repayment of
bank borrowings and working capital, it said. -- BERNAMA
its
subsidiaries, Chau Yang Farming Sdn Bhd (CYF), Tip Top Meat Sdn Bhd
(TTM) and AA Meat Shop Sdn Bhd (AAM), to Charoen Pokphand Foods
(Malaysia) Sdn Bhd for RM64.0 million.
The proposed disposal is
in line with MKH Group's objective of disposing of its non-core
businesses and focusing on its core businesses in property development,
property investment, construction and oil palm plantations, MKH said in a
filing to Bursa Malaysia.
CYF is involved in livestock farming
and oil palm cultivation, TTM in food processing and trading, and AAM
in trading of food and meat-related products.
The proposed
disposal will enable the Group to raise proceeds for the repayment of
bank borrowings and working capital, it said. -- BERNAMA
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