CCM to sell Medan plant

KUALA LUMPUR: Chemical Company of Malaysia Bhd (CCM) is keeping its options open for its facility in Medan, Indonesia. It has two options for the asset – either to sell it as a going concern or pare it down, said group managing director Leonard Ariff Abdul Shatar.

“There are two options. One is to sell it as a going concern, the other option is to sell the assets down. We were in discussions with a few parties, but at the same time, we are working in parallel. We are also going ahead with an asset sale, so whichever happens first,” he told StarBiz on the sidelines of the government-linked companies (GLC) graduation ceremony on Friday.