HLIB disposes of HLI Trading Ltd for RM36mil

KUALA LUMPUR: Hong Leong Industries Bhd (HLIB) is disposing of its entire equity interest in HLI Trading Ltd (HLIT) to Guoline International Ltd for RM36.22mil.

In a filing with Bursa Malaysia, HLIB said the disposal of HLIT will enable HLIB to streamline its offshore non-operating company.

“The proceeds will be placed with financial institutions pending identification of suitable investment opportunities and expansion plans.

“There are no liabilities, including contingent liabilities, in relation to the disposal of HLIT which remain with the company. There are also no guarantees given by the company pursuant to the disposal of HLIT,” said HLIB.