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Wednesday, February 16, 2011

KHSB: Land sale proceeds to pare debts (BT)

Kumpulan Hartanah Selangor Bhd (KHSB) said it will utilise the proceeds of RM45 million from the sale of the freehold agriculture land in Johor Baharu to reduce the company''s borrowings and as working capital.

In a filing to Bursa Malaysia today, it said RM22.161 million would be used to repay borrowings while RM22.838 million would be used as working capital/payment of land cost. - Bernama

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