Atlan to dispose of assets for RM33m

ATLAN Holdings Bhd has agreed to dispose of two pieces of land in Batu Ferringhii, Penang, together with a single-storey sales office for RM33 million cash.

The sales proceeds will be used to repay bank borrowings as well as for working capital, the firm told Bursa Malaysia yesterday.

The proposed disposal will allow it to capitalise on the opportunity arising from the appreciation in the market value of the properties and to streamline the group’s assets, it added.

SOURCE: Business Times

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