KUALA LUMPUR: Property developer HCK Capital Group Bhd
has disposed of its 70%-owned indirect subsidiary JB Fine Coffee Sdn Bhd to Intermark Resources Sdn Bhd for RM560, 000.
In a filing with Bursa Malaysia, HCK said the divestment was to reduce cost in maintaining the non-core subsidiary company and to improve the group’s balance sheet.
“The disposal will enable HCK to channel the group’s resources into its core activities of property development and K-12 education, driven by technology platforms that are anticipated to have better growth, ” it said.
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