for RM233.4mil cash.
Boustead told Bursa Malaysia today that the estimated gain from the disposal of the 6.6 acres of land was about RM54.1mil. The proposed disposal also allows Boustead to strengthen its liquidity and cash flow position by raising total net cash proceeds of approximately RM213.8mil (net of estimated expenses), which will be utilised for repayment of bank borrowings and working capital, it said.
Meanwhile, in a separate announcement, Boustead said it has entered into a memorandum of understanding (MoU) with one of the largest commercial algae plantation owner and cultivator in the world - Next Generation Oil Sdn Bhd.
HLT Global, Boustead, Magna Prima, IWCity, Tan Chong, AmFirst REIT, Homeritz, Freight Management, M3, MAHB and Artroniq
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Boustead s indirect unit to dispose of land for RM233 39m | Money
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KUALA LUMPUR (Jan 26): Malaysia’s new Covid-19 cases rose to 3,585 today, from 3,048 reported on Monday, marking the third straight day of cases staying above the 3,000 mark with 11 more deaths recorded.
Among the new infections today, two were imported meaning they had contracted the virus from abroad while 3,583 were local transmissions, said health director-general (DG) Tan Sri Dr Noor Hisham Abdullah.
Dr Noor Hisham said among the locally transmitted cases, 3,053 or 85.2% involved Malaysians, while 530 or 14.8% were foreigners.
This raised the cumulative Covid-19 infections to 190,434 from just 113,010 as at Dec 31, 2020. The 11 additional fatalities also pushed the coronavirus death toll to 700, according to his statement.