Decision on gain: BAT Malaysia has yet to decide what to do with the proceeds from the disposal of the property.

PETALING JAYA: British American Tobacco (M) Bhd (BAT Malaysia) is selling its landmark cigarette factory in Petaling Jaya for RM218mil to LGB Properties (M) Sdn Bhd as the group winds down its manufacturing business in the country.

The buyer for the site was selected via a public tender exercise.

BAT Malaysia said in a filing with Bursa Malaysia yesterday that it had yet to decide what to do with the proceeds from the disposal, but may use it as dividends to shareholders, undertake capital reduction of BAT Malaysia and/or repay current revolving credit facilities.

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