KUALA LUMPUR: KPower Bhd has entered into a deal to sell a property in Liverpool, the United Kingdom, 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 monetise its non-core investment besides providing immediate cashflow that will be channelled towards meeting the general working capital requirements, ” the company said in a filing with Bursa Malaysia.
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