In a filing with Bursa Malaysia yesterday, Landmarks said the group is expected to record a one-off gain on disposal of S$20.27mil, which is equivalent to RM61.72mil derived from the disposal of 51% equity interest in its subsidiary Mendol Investments Pte Ltd (MIPL) and the fair value of the remaining 49% stake in the latter.
PETALING JAYA: Loss-making Landmarks Bhd
has proposed to sell a controlling stake of 51% in its hotel operation in Bintan, Indonesia for RM42.24mil to raise funds to supplement its working capital requirements.
Genting Bhd owns a 25% stake in Landmarks.
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