Malaysian Resources Corp Bhd is divesting its 30
percent stake in the concessionaire of Duta-Ulu Kelang
Expressway (DUKE) to Ekovest Bhd for 230 million
ringgit ($69.19 million) in a cash deal, sources said.
The deal is expected to be completed by the end of this
month. Sources said Malaysian Resources Corp held its board
meeting on Tuesday and approved the sale of Duke.
These are among some of the few "monetising" deals by
Malaysian Resources Corp that will take place over the next
couple of weeks.
These deals will not only pare down the company's debt but
create recurring income, in line with the direction taken by
Malaysian Resources Corp group managing director Mohamad Salim
Fateh Din after he took control of Malaysian Resources Corp.-The
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NOTE: Reuters has not verified this story and does not vouch
for its accuracy.
($1 = 3.3240 Malaysian ringgit)