KUALA LUMPUR (June 28): Utusan Melayu (Malaysia) Bhd is disposing of an apartment unit it owns in Indonesia for RM1.45 million to unlock the value of the property.

In a filing to the stock exchange today, Utusan said the property is located at The Belleza Permata Hijau in Jakarta.

Utusan said the disposal is expected to result in a net gain of about RM179,928.

On the rationale of the disposal, Utusan said it will enable the group to raise funds for its working capital.

On the utilisation of the proceeds, Utusan said it is intended to partially fund payment for voluntary separation scheme and working capital.

"The actual utilisation has not been determined at this juncture and may differ at the time of utilisation," it said.