MARKET DEVELOPMENT
Kumpulan Fima Sells Stake In Co
Kumpulan Fima Sells Stake In Co
Friday August 6, 10:03 AM , KUALA LUMPUR (Dow Jones)--Kumpulan Fima Bhd.(6491.KU) plans to sell its entire stake, comprising 26.5 million shares,in oil palm cultivator Ladang Perbadanan-Fima Bhd. (5851.KU), to GlamourGreen Sdn. Bhd. for 100.7 million ringgit ($1=MYR3.80) cash. The estimatednet gain from the sale is MYR62.6 million after the deduction of thecompany's investment costs in Ladang. Kumpulan Fima provides storage andfreight services for edible and non-edible oils.
Property firm Petaling Garden Bhd.'s (1767.KU) wholly-owned unit CapitalDevelopment Sdn. Bhd. plans to acquire the Wisma Nusantara office tower inKuala Lumpur from Swiss Gold Realty Sdn. Bhd. for 26 million ringgit($1=MYR3.80) cash.