Thursday 28 Mar 2024
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KUALA LUMPUR (Aug 17): Malaysian Resources Corp Bhd (MRCB) is actively looking at all options to dispose of Eastern Dispersal Link (EDL) Expressway in Johor, said MRCB chief corporate officer Amarjit Chhina.

"We are actively looking at all options on how we can remove it from our balance sheet. We talk to many different people on how to resolve," he told reporters after a signing ceremony today.

"EDL is something we don't regard as core business and our intention is still take it off our balance sheet. It accounts for 36% of our debt," he said.

He added that taking out EDL would probably see its gearing fall to 0.5 times.

MRCB announced in end-June that it is selling Menara Shell to MRCB-Quill Real Estate Investment Trust for RM640 million.

The group said the proposed disposal will result in a net gain of about RM139 million and a reduction of its net gearing to 1 times.

At 12.30pm, shares of MRCB were traded 1 sen or 0.77% lower at RM1.29, for a market capitalisation of RM2.43 billion.

 

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