Sarawak Cable disposes helicopter for RM35mil

KUALA LUMPUR (Bernama) -- Sarawak Cable Bhd (SCB) is selling a helicopter to Rotortrade Services Pte Ltd for RM35.18 million cash.

Its wholly-owned subsidiary, Aerial Power Lines Sdn Bhd (APL), signed an agreement to dispose of the aircraft to the Singapore-incorporated helicopter distributor on April 2, SCB said in a filing with Bursa Malaysia today.

The company said the proposed disposal was part of the group’s asset rationalisation programme, which would reduce its gearing level as the relevant bank borrowings for the aircraft would be pared down substantially.

The proposed disposal is expected to be completed by the fourth quarter of 2021.

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