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MK Land sticks to strategy to cut debt.

Business Times (Malaysia)

| December 09, 2010 | COPYRIGHT 1999 Financial Publications Sdn Bhd. (Hide copyright information)Copyright

Byline: Zurinna Raja Adam

PROPERTY developer MK Land Holdings Bhd will continue with its strategy to form joint ventures for land development and selling land that it does not plan to develop to reduce its debt.

The group has settled borrowings by RM98 million to RM398 million through asset realisation exercises and more stringent cash flow management. In 2008, it was riddled with some RM550 million in debts.

Chief operating officer Lau Shu Chuan said MK Land has so far locked in RM138 million in joint-venture projects, which will help it settle its loans in stages.

Over the last two years, the group has made RM162 million in land sale after …

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