COUNTRY HEIGHTS EDUCATION SDN BHD (CH Education) has signed into an agreement to dispose of its entire 70% equity in Country Heights Brickfields College Sdn Bhd (CH Brickfields) for RM3mil.
The original cost of investment in the college for CH Education, a subsidiary of Country Heights Holdings Bhd
(CHHB), was RM10mil, incurred in 1996 and which has since been totally written down. CH Education would therefore realise a RM3mil profit from the disposal, while the CHHB Group would realise a RM4mil profit after taking into account losses incurred by CH Brickfields, which have been consolidated in the group results up to end December 2002.
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