Axiata Group Bhd is selling its Myanmar telecommunication tower business below its original cost of investment as it scouts for ways to slash its massive borrowings of almost RM25bil.
Maamba Collieries Limited, Zambia, Subsidiary of Nava limited, has leveraged upon the improved operational cash flows and receipts against the Arbitral Award to discharge completely the overdue loan instalments aside from meeting regular debt service from
Vikas Ecotech Limited has paid back Rs. 52.20 Million Approx., taking the total amount of bank-debt reduced to Rs. 791.30 Million and the overall bank-debt reduction to Rs. 908.70 Million till date.
Saboo Sodium Chloro Ltd has proposed sale of unutilized asset in Gandhidham, Gujarat. The company is currently in active negotiations with few financially sound interested buyers and the deal is likely to be completed by mid April.