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Article: AMDB cuts gearing ratio by selling unit
- Article from:
- New Straits Times
- Article date:
- October 1, 2008
- Author:
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Rupinder Singh
New Straits Times
10-01-2008
AMDB cuts gearing ratio by selling unit
Byline: Rupinder Singh
Edition: Main/Lifestyle
Section: Business Times
Type: Company
PROPERTY developer AMDB Bhd said its gearing ratio will be cut by half from 0.49 in the second quarter ended September 30 2008, with the disposal of loss-making unit, Sebana Holdings Sdn Bhd, for RM87 million.
The sale is expected to reflect favourably in the company's six months results ended September 30 2008.
Gearing ratio compares the company's equity or capital to borrowed funds.
AMDB is undergoing a restructuring plan which includes disposing its non-core assets to repay debts and repositioning itself as a property, ...
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