BENALEC TO DISPOSE OF LAND FOR RM54.31 MLN

12 Jul 2013 11:19

KUALA LUMPUR, July 10 (Bernama) -- Heritage Land Sdn Bhd, a wholly-owned unit of Benalec Holding Bhd, will dispose of eight pieces of leasehold land for RM54.31 million cash.

In a filing to Bursa Malaysia today, Benalec said the proceeds from the land disposal will be used to finance the ongoing projects and to meet working capital requirements of the company.

Benalec said the exercise was expected to be completed by the fourth quarter of 2013. -- BERNAMA

SPSA THs