Maju Perak Berhad as part of its regularisation plan looks to dispose more assets to realise funds to pare down its debts, the latest being a property known as Brewster Village in Ipoh for RM18.4 million.
The group in a Bursa filing said it had entered into a Sale and Purchase Agreement with Ladang Lekir Sdn. Bhd. a wholly owned subsidiary of Perak Agro Oil Palm Sdn. Bhd. which in turn is a wholly owned subsidiary of Perbadanan Pembangunan Pertanian Negeri Perak for the sale of the property.
MPB said the proposed disposal will allow the Group to unlock the value of the Land and the proceeds arising therefrom would be used to reduce debts and for working capital. The group adds the disposal also forms part of its business
Regularisation Plan, which is still in the midst of being finalised as of the date of this announcement.
The group plans to make the requisite announcement for its proposed Regularisation Plan by the 2nd Quarter of 2024.
