MBf to continue to trim its debt.

(From Business Times (Malaysia))

Byline: Rupa Damodaran

CASH-STRAPPED MBf Corp Bhd is keen to expand its tourism and leisure business once it has cut down its debts to a manageable level, says chief executive officer Datuk Loy Teik Ngan.

The company plans to reduce its RM290 million borrowings by RM200 million, which would reduce its current gearing of 15 times to 1.5 times.

MBf's core business is in leisure and timeshare, property development and management, hotel and resort, hire puchase and factoring.

"Ideally, our gearing should be below 1.0 time ... we need to reduce the debt to a much more manageable level and use the cash …