LINEAR Corp Bhd plans to sell its entire 40 per cent stake in Boustead Linear Corp Sdn Bhd (BLC), a joint-venture company it formed with Mutiara Rini Sdn Bhd in 2003, to the latter for RM2.5 million cash.
Linear told Bursa Malaysia yesterday that the divestment provides it an opportunity to raise cash to address the liquidity problems facing the the company.
The exercise is expected to be completed by August 31 this year.
-- by Business Times
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