Muar Ban Lee Disposes Thereon To Unlock Its Value In Investment

Muar Ban Lee Group Bhd announced the entire disposal of equity interest In its wholly-owned subsidiary Theron Holdings Sdn Bhd for RM19.254 million to XOX (Hong Kong Ltd.

It said that the rationale of the disposal is to unlock the value of its investment in Theron, which primarily holds 98,090,536 Symphony Shares. In this respect, the Group is expected to record a net pro forma gain on disposal of approximately RM48.89 million, improve its financial position and financial performance.

It said that the gross proceeds from the utilisation would be for working capital.

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