EQUATOR LIFE SCIENCE reported that its 100% owned unit EQUATOR BIOTECH sb had on May 14, 2008 entered into Agreements to dispose the following property:
1. Disposal of 7 plots of freehold land in Mukim Sungai Balangmeasuring 29.4 acres to TOH PENG SAN @ TOH THENG SUN for a cashconsideration of RM1.11m. The property as valued at RM1.12m by COLLIERS, JORDAN LEE & JAAFAR sb in Mar 2008.
Disposal of 4 plots of land in Mukim Sungai Balang measuring 25.9 acres to CHIA AH MOI for a cash consideration of RM986,039. The property as valued at RM1.11m by COLLIERS, JORDAN LEE & JAAFAR sb in Mar 2008.
The proceeds of the disposal will be used to repay bank borrowings and for working capital.(By KLSETRACKER.com)