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ECMLFG disposes of Libra Invest for RM50.07m | Malay Mail

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ECMLFG disposes of Libra Invest for RM50.07m

KUALA LUMPUR, March 28 — ECM Libra Financial Group Bhd has entered into a conditional share purchase agreement with Kenanga Investors Bhd to dispose of its 100 per cent stake in Libra Invest Bhd for RM50.07 million.

ECMLFG said the bulk of the provisional disposal consideration arising from the proposed disposal of RM50.07 million was intended to be utilised for reinvestment into the hospitality business amounting to RM49.63 million, with the remaining RM440,000 to be used for estimated expenses for the proposed disposal.

 

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