Malaysia's TDM sells poultry unit
Malaysian healthcare company TDM is to sell its wholly-owned poultry unit, TD Poultry Sdn Bhd, to Vision Poultry Sdn Bhd for RM4 million.
The sale aims to streamline and rationalise the core business of the group, palm plantations and healthcare. TDM expects the proceeds from the sale to be used to develop one of its oil palm plantations in Kalimantan, Indonesia and other general working capital purposes.
TD Poultry’s audited net assets as of December 2010 were RM3.4 million (US$1.09 million) and it represents a price to book ratio of 1.19 times. Vision Poultry will place a RM1 million (US$321,018) deposit and the remaining amount will be payable in eight equal annual instalments.
Source: Business Times Malaysia
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