Malakoff disposes of land in Australia for RM1b | Malaysia


Malakoff chief executive officer Datuk Ahmad Fuaad Kenali said the proposed disposal provides an opportunity for the company to unlock the value of its investment in Macarthur WF. — Picture by Yusof Mat Isa
Malakoff chief executive officer Datuk Ahmad Fuaad Kenali said the proposed disposal provides an opportunity for the company to unlock the value of its investment in Macarthur WF. — Picture by Yusof Mat Isa

KUALA LUMPUR, Oct 29 — Malakoff Corporation Bhd (Malakoff) indirect wholly-owned subsidiary, Skyfirst Power Sdn Bhd (SPSB), is disposing of its entire 50 per cent participating interest in the Macarthur Wind Farm in Australia for a cash consideration of A$356.85 million (approximately RM1.024 billion).

In a statement today, Malakoff chief executive officer Datuk Ahmad Fuaad Kenali said the proposed disposal provides an opportunity for the company to unlock the value of its investment in Macarthur WF.

The proposed disposal will give rise to an estimated net gain of approximately RM546 million, based on audited accounts as at December 31, 2018, and immediately reduces Malakoff’s borrowings, as well as its gearing ratio. — Bernama



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