BLand to dispose of BVC India to AHPL

KUALA LUMPUR: Berjaya Land Bhd's (BLand) wholly-owned subsidiaries Berjaya Vacation Club Bhd (BVC), BVC (Cayman) Ltd and BVC India have entered into a conditional share purchase agreement with Auromatrix Hotels Private Ltd (AHPL).

The agreement was for the proposed disposal by BVC and BVC Cayman collectively of 100% equity interest in BVC India to AHPL for RM15.06 million.

In a filing to Bursa Malaysia on Thursday, Mar 10, BLB said the proposed disposal represented a good opportunity for the group to realise its investment in BVC India.

The proposed disposal is expected to increase the net equity funds of the group from RM5.14 billion to RM5.15 billion.

"The cash proceeds of RM15.06 million pursuant to the proposed disposal will be used by the group for working capital," it added. — Bernama