The Sun (Malaysia) - - SUNBIZ -

PETAL­ING JAYA: PDZ Hold­ings Bhd pro­poses to dis­pose of a steel full con­tainer car­rier known as PDZ Me­gah for RM6.36 mil­lion. In a fil­ing with Bursa Malaysia, the com­pany said its 99.9% owned sub­sidiary Fokus Ma­rine Sdn Bhd had en­tered into a me­moran­dum of agree­ment and a sup­ple­men­tal agree­ment with Har­bour-Link Ship­ping Sdn Bhd for the pro­posed dis­posal. PDZ said the pro­posed dis­posal is part of its long-term ves­sel re­place­ment pro­gramme to up­grade ex­ist­ing ves­sels with newer ton­nages that are more cost ef­fi­cient and suit­able to the mar­ket de­mand. The com­pany in­tends to use RM3.5 mil­lion of the dis­posal pro­ceeds for the pay­ment to its cred­i­tors and the bal­ance RM1.3 mil­lion for its work­ing cap­i­tal by Dec 31, 2016.

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