Country Heights plans to sell assets at 25% discount to address cash flow issue

SERI KEMBANGAN: Country Heights Holdings Bhd (CHHB) is looking to sell off some of its properties to resolve the group’s cash flow issue.

Speaking to reporters after its AGM today, chairman Tan Sri Lee Kim Yew (pix) said the group is contemplating a 25% discount from the valuation of its properties to reduce its RM130 million of debt.

“The discount is the maximum allowed for the board to offer without running afoul of the Malaysian Anti Corruption Commission. At the moment, we are looking to offer the discount for Country Heights Damansara,” he explained.

In addition, CHHB will also be looking to refinance some of its debt.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *