Tiger Synergy arm disposes land for RM4m: "Tiger Synergy Bhd's wholly-owned subsidiary, Tekan Mewah Development Sdn Bhd, has entered into a sale and purchase agreement with Wonderful Niche Development Sdn Bhd for the disposal of 15 pieces of land at Pekan Lukut, Port Dickson, for a total consideration of RM4 million cash. The lands are freehold lands.
In a filing with Bursa Malaysia today, Tiger Synergy said proceeds from the
disposal would be utilised for the repayment of bank borrowings (RM2.5 million), as working capital (RM1.47 million) and to defray estimated expenses relating to the disposal (RM30,000).
"The board is of the opinion that the disposal is in the best interest of
Tiger Synergy Group in view that the proceeds raised will be utilised to pare
down the bank borrowings and to finance the group's working capital.
"The proceeds will strengthen Tiger Synergy Group's cash flow position," it
said. -- Bernama "
'via Blog this'
In a filing with Bursa Malaysia today, Tiger Synergy said proceeds from the
disposal would be utilised for the repayment of bank borrowings (RM2.5 million), as working capital (RM1.47 million) and to defray estimated expenses relating to the disposal (RM30,000).
"The board is of the opinion that the disposal is in the best interest of
Tiger Synergy Group in view that the proceeds raised will be utilised to pare
down the bank borrowings and to finance the group's working capital.
"The proceeds will strengthen Tiger Synergy Group's cash flow position," it
said. -- Bernama "
'via Blog this'
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