KUALA LUMPUR: Ireka Corp Bhd’s 23 per cent-owned associate company, Aseana Properties Ltd, plans to dispose of all of its properties, currently worth US$180 million, in stages.
Ireka group deputy managing director, Monica Lai Voon Huey, said Aseana Properties was in the divestment phase to generate returns to its shareholders as well as parent company.
“Aseana is in a divestment mood and wants to realise all of the assets, which have completed. Some of the operating assets have achieved positive cash flow,” she told reporters after the Memorandum of Understanding signing ceremony between Ireka and China’s CRRC Urban Traffic Co Ltd and STO Express Co Ltd today.
Under the agreement, the three parties will establish collaborative activities in the urban transportation as well as logistics segments.
Lai said that Ireka would concentrate on Aseana in the next two years and bring back money to Ireka.
Under its portfolio, Aseana owns five properties in the Kuala Lumpur city centre, three in Sandakan, two in Negeri Sembilan and a hospital in Ho Chi Minh, Vietnam.