Global Oriental to sell land for RM142mil

KUALA LUMPUR: Global Oriental Bhd's shareholders today agreed to the disposal of two parcels of land in Selangor for RM142.35 million to improve cash flow and loan repayment.

"We need the money as working capital for the 'Pavilion Embassy', a mixed joint-venture development project with the Malaysian Rubber Board," he told reporters after the company's extraordinary general meeting here today.