Marine & General sells vessel for RM26mil

PETALING JAYA: Marine & General Bhd’s unit M&G Tankers Sdn Bhd disposed of a vessel for US$5.55mil (RM26.21mil) to Singaporean firm Kalianda Permata Transport Pte Ltd.

In comparison, the cost of investment for the vessel, JM Sutera 5, totalled US$5.42mil, with the net carrying value as at March 26 recorded at US$4.36mil.

The group said the net disposal proceeds will provide part of the financing required for its fleet optimisation strategy.