Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (June 22): Ceramic tile maker White Horse Bhd is disposing of a piece of leasehold land with buildings in Vung Tau, Vietnam for RM113.45 million.

The group is selling the land measuring 278,511 square metres to Vietnam's Viglacera Tien Son Joint Corp, it said in a bourse filing.

White Horse said the disposal is expected to improve its bottom line in the long run as the ceased operation in Vietnam would reduce its loss position, besides consolidating the production facility in Malaysia.

The expected gain from the disposal is RM58.3 million, the group added.

White Horse's share price rose one sen or 1.63% to 62.5 sen today, giving the group a market capitalisation of RM148.79 million.

Edited ByS Kanagaraju
      Print
      Text Size
      Share