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Saturday, January 8, 2011

Zelan cut further its stake in IJM (STAR)

Following the disposal of 30 million shares in IJM Corp Bhd late last year, construction firm Zelan Bhd has disposed of another 600,000 shares at an average disposal price per share of RM6.31 over Wednesday and Thursday for a total of RM3.78mil.

The company told Bursa Malaysia yesterday proceeds from the disposal would be used as working capital and to repay bank borrowings.

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