<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 24): Heng Huat Resources Group Bhd's wholly-owned subsidiary Heng Huat Industries Holdings Sdn Bhd plans to dispose of its entire stake in HK Palm Fibre Manufacturer Sdn Bhd (HKPF) for RM2.7 million.</p></div>

<div class=newsTextDataWrapInner><p>Heng Huat said the sale to Arah Kawasan Sdn Bhd is expected to improve the group's performance as it will no longer need to absorb the losses of HKPF.</p></div>

<div class=newsTextDataWrapInner><p>Further, production efficiency will also improve as a result of higher utilisation of the remaining production capacity of the group to cater for orders from customers currently served by HKPF, said Heng Huat in a filing with Bursa Malaysia.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>HKPF is principally involved in manufacturing and trading of oil palm biomass materials. As at Dec 31, 2017, HKPF reported a net loss of RM460,689.</p></div>

<div class=newsTextDataWrapInner><p>Heng Huat said the disposal will see a one-off loss on disposal of RM2.62 million and it expected this to dilute its earnings per share and net assets per share for the financial year ending Dec 31, 2018.</p></div>

<div class=newsTextDataWrapInner><p>"The sale proceeds arising from the proposed disposal will be used as working capital for Heng Huat and its subsidiaries," it added.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Heng Huat closed lower by 0.5 sen or 2.5% at 19.5 sen today, valuing the group at RM60.2 million.</p></div>


KUALA LUMPUR (Sept 24): Heng Huat Resources Group Bhd's wholly-owned subsidiary Heng Huat Industries Holdings Sdn Bhd plans to dispose of its entire stake in HK Palm Fibre Manufacturer Sdn Bhd (HKPF) for RM2.7 million.

Heng Huat said the sale to Arah Kawasan Sdn Bhd is expected to impro...

Heng Huat disposes of loss-making unit for RM2.7m

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Farhash, a former aide to Prime Minister Datuk Seri Anwar Ibrahim, is deemed no longer to be a substantial shareholder by virtue of the change ...

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