KUALA LUMPUR: IJM Corp Bhd
, which is disposing of its entire 56.2% stake in IJM Plantations Bhd to Kuala Lumpur Kepong Bhd (KLK) for RM1.53bil, will be allocating part of the proceeds for future investment opportunities and capital expenditure.
In a circular to shareholders yesterday, IJM Corp said it will be utilising 28% or RM430mil of the proceeds to strengthen the group’s earnings.
“IJM Corp is continuously on the lookout for viable investment opportunities in relation to our group’s businesses. The earmarking of the proceeds will provide our group with readily available funds to undertake viable investment opportunities as and when they arise.”
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