RANHILL SELLS 60% STAKE IN HK UNIT

The Sun (Malaysia) - - SUNBIZ -

PE­TAL­ING JAYA: Ranhill Hold­ings Bhd yes­ter­day an­nounced the di­vest­ment of a 60% stake in Ranhill Wa­ter (Hong Kong) Ltd to SIIC En­vi­ron­ment Hold­ings Ltd for 273.90 mil­lion yuan (RM169.11 mil­lion), in a move to raise cash for its power ex­pan­sion and form a part­ner­ship with SIIC. Some RM120 mil­lion of the pro­ceeds have been ear­marked for in­vest­ment in new power projects. Ranhill Group is ex­pected to re­alise a net gain from the pro­posed di­vest­ment of RM24.46 mil­lion.

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