Sale of highway and Menara Shell to reduce MRCB debts by 50%

(File pic Menara Shell)

PETALING JAYA: The sale of a highway to Johor that forms a vital link to Singapore and an office building in Kuala Lumpur is expected to shave off almost 50% of Malaysian Resources Corp Bhd’s (MRCB) debts.

Sources said the company was looking at its gearing coming down to a more palatable level of 0.7 times from 1.28 times once the sale of the Eastern Dispersal Link (EDL) and the disposal of Menara Shell to its real estate investment trust (REIT) is completed.