PETALING JAYA: Kanger International Bhd
is disposing of 23 units of proposed serviced apartments at Block A, Antara @ Genting Highlands to Pioneer Resources Development Sdn Bhd for RM25.93mil.
In a filing with Bursa Malaysia, the global integrated bamboo product manufacturer and supplier said the proposed disposal will improve the company’s cash flow by reducing the financial commitment of the property.
“The net proceeds from the proposed disposal are expected to be utilised by Kanger for working capital purposes.
“The disposal is not expected to have any material effect on the group’s earnings and earnings per share for the financial period ending March 31, 2026.
“But it is expected to contribute positively to its future earnings and the company’s earnings per share,” it said.
