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Malaysia's Country Heights to sell shopping mall to CapitaLand for 432 mln rgt


Published : Fri, 17 Aug 2007 00:45
By : Agencies
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KUALA LUMPUR (Thomson Financial) - Malaysian property group Country Heights Holdings Bhd said it plans to sell a shopping complex in the central Selangor state to Mutual Streams Sdn Bhd, a unit of Singapore-based CapitaLand Ltd for 432

million ringgit.

The proposed disposal will enable Country Heights to realise its investment in the Mines Shopping

Fair complex and raise funds to reduce its gearing, the Malaysian company said in a statement late

Thursday.

Country Heights, 36 pct owned by Malaysian Chinese businessman Lee Kim Yew, runs several hotel assets in Malaysia, including the Palace Of The Golden Horses in Selangor.

(1 US dollar = 3.50 ringgit)

aipeng.soo@thomson.com

as/ms

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