Finally, a solution for JCorp

AT long last, a solution seems to have surfaced to address Johor Corp's (JCorp) debt woes. But there are still questions on whether this is the best option for the asset-rich but cash-strapped JCorp whose total debt as at the end of 2009 stood at RM6.62bil with only RM705mil in cash reserves.

Kulim (M) Bhd yesterday signed several sales and purchase agreements with its parent JCorp to acquire over 33,800 acres of estate land in Johor for RM700mil cash.