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Malaysian Resources sells property services company

Malaysian Resources Corp. Bhd. completed its divestment of Semasa Services Sdn. Bhd. April 5.

The company on Jan. 12 agreed to sell its entire equity interest in the property services company to Crystal Clear Cleaning Sdn. Bhd. for 4.8 million Malaysian ringgit. The subsidiary was established in 1978 to provide building and facilities maintenance services.

Malaysian Resources intends to use proceeds from the divestment as working capital.

As of April 5, US$1 was equivalent to 4.43 Malaysian ringgit.