Friday, 5 July 2013

LBS Bina to sell subsidiaries for RM681m

LBS Bina Group Bhd, via indirect subsidiary Dragon Hill Corp Ltd, has issued a circular to its shareholders in relation to its proposal to dispose of its interest in two subsidiaries for RM681.2m. The subsidiaries Lamdeal Consolidated Development Ltd and Lamdeal Golf & Country Club Ltd are to be sold for RM643.9m and RM37.3m respectively. The proposal was made to Jiuzhou Tourism Property, a unit of Zhuhai Holdings Investment Group Ltd, a public company listed on the Hong Kong Stock Exchange. (BT)

Source: CIMB Daybreak - 05 July 2013

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