Bolton Sells Subsidiary For RM50 Million To Shapadu

KUALA LUMPUR, Dec 9 (Bernama) -- Bolton Bhd is proposing to dispose its 100 per cent equity in Liam Thiam Leong Realty Sdn Bhd (LTLR) to Shapadu Resources Sdn Bhd for RM50 million.

The sale was in line with its business rationalisation which included disposing off its non-core assets and investments that do not yield reasonable returns and to re-focus on property development.

The transaction is expected to be completed by the first-quarter of its finacial year ending March 31, 2012, said Bolton in a filing with Bursa Malaysia.

LTLR owned 70 parcels of retail lots, office suites and 286 parking bays in the 20-storey Campbell Complex in Kuala Lumpur.

-- BERNAMA

Source: http://www.bernama.com/bernama/v5/newsbusiness.php?id=548924