KUALA LUMPUR: KPower Bhd has entered into a deal to sell a property in Liverpool, UK for £1.25mil (RM7.2mil), shedding a legacy asset to focus on its new ventures in the sustainable energy and utilities sector.

The property is a 36-bed student hall of residence which was converted from its previous use as a hostel in 2011.


"The disposal represents an opportunity for KPower to unlock the value and monetize its non- core investment besides providing immediate cash flow that will be channelled towards meeting the general working capital requirements," the company said in a filing with Bursa Malaysia today.

"The Disposal will free up the monitoring resources and expense to more worthwhile ventures, hence enable the Group to continue to focus on its core competencies which mainly cover activities relating to sustainable energy and utilities," it added.