KUALA LUMPUR: KPower Bhd has entered into a deal to sell a property in Liverpool, UK for £1.25mil (RM7.2mil), shedding a legacy asset to focus on its new ventures in the sustainable energy and utilities sector.
The property is a 36-bed student hall of residence which was converted from its previous use as a hostel in 2011.
"The disposal represents an opportunity for KPower to unlock the value and monetize its non- core investment besides providing immediate cash flow that will be channelled towards meeting the general working capital requirements," the company said in a filing with Bursa Malaysia today.
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