LAFARGE SELLS SUB­SIDIARY FOR RM28 MIL­LION

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: Lafarge Malaysia Bhd is dis­pos­ing of its 100% stake in Lafarge Ag­gre­gates (Ipoh) Sdn Bhd (LAI) for RM28 mil­lion. In a fil­ing with the stock ex­change, the ce­ment man­u­fac­turer said its sub­sidiary Lafarge Ag­gre­gates Sdn Bhd had en­tered into a share sale agree­ment with Cabaran Premix Sdn Bhd for the dis­posal ex­er­cise. Large said the dis­posal is part of its strate­gic plan to dis­pose of its as­sets with lower re­turns and to gen­er­ate cash to in­vest in as­sets which would gen­er­ate bet­ter re­turns and have greater strate­gic im­por­tance. The pro­ceeds from the dis­posal will be utilised for the group’s work­ing cap­i­tal and in­vest­ment pur­poses.

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