KUALA LUMPUR: Heng Huat Resources Group Bhd is disposing of five parcels of adjoining lots of land measuring 53,354 sqm and two factory buildings in Seberang Prai, Penang, for RM22mil to fulfil its immediate cash flow requirements.
"The Proposed Disposal will enable Heng Huat to use the proceeds to mainly repay its bank borrowings and enhance its working capital to facilitate its operating activities.
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