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KUALA LUMPUR (May 13): Berjaya Land Bhd (BLand) said it has disposed of an aggregate of 15 million shares or a 4.22% stake in Berjaya Food Bhd (BFood) over the past two days.
In a filing with Bursa Malaysia yesterday, BLand said the disposals were carried out via direct business transactions for RM27.61 million at an average price of RM1.84 per share.
Following the disposals, BLand and its subsidiaries hold a total of 11.55 million BFood shares, representing a stake of 3.25%.
The net cash proceeds from the disposals will be utilised for working capital, BLand said, noting that the disposals also enabled the group to cash out part of its investment in BFood.
“The disposals also have no material effect on the net assets, earnings and gearing of the BLand Group. There is no gain or loss arising from the disposal,” it added.
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