PETALING JAYA: Marine & General Bhd
(M&G) has disposed of its vessel, JM Sutera 7 to Narsimhaa Shipping Inc, Liberia for RM27.2mil.
In a filing with Bursa Malaysia, M&G said the disposal of the vessel will enable the group to realise its original investment in the vessel that it acquired back in March 2018.
“At the same time the proceeds from the disposal will enable the company to reinvest in its fleet rejuvenation to better serve its customers going forward.”
The company added that gain on disposal of the vessel amounting to approximately RM9mil will contribute positively to earnings, net assets and gearing of the group.
