03/08/2011 (The Star) - Sin Heng Chan (Malaya) Bhd (SHC Malaya) is selling its 80% stake in Sin Heng Chan Industries Sdn Bhd (SHC Industries) to Goldform Resources Sdn Bhd for RM24.5mil.

The exercise also entailed the disposal of an effective 48% equity interest in LKPP-Goldkist Sdn Bhd, a 60%-owned unit of SHC Industries, it said in a filing with Bursa Malaysia yesterday.

SHC Malaya said the proposed disposal would enable it to unlock its investment in SHC Industries.

“It will also enable the company to focus on its other businesses like cultivation of palm oil and allow it to raise working capital for its operation,” it said. — Bernama