BGB said in a filing to Bursa Malaysia that the proposed disposal involved the disposal of a piece of freehold land in Mukim Bandar Sri Damansara, Selangor.
Proceeds from the sale has been mainly earmarked for the repayment of bank borrowings and working capital of the group, it said.
This will bring immediate financial benefits, ie interest savings on bank borrowings of approximately RM697,500 to the group as well as provide additional funds for its construction and future opportune investments.
By Bernama
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