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Land sell-off may help Guthrie's gearing level.
KUMPULAN Guthrie Bhd's proposal to sell some of its land in Malaysia to pay for recent acquisitions in Indonesia could help reduce the company's gearing level, analysts say.
The company's gearing ratio currently stands at slightly more than one, with shareholders funds of about RM2 billion.
"Guthrie's venture into Indonesia was very brave indeed, but it has also caused the company to be heavily indebted," a plantation analyst told Business Times in Kuala Lumpur last Friday.
"Although their Indonesian investment is very strategic for the long- term, for survival the group needs to convert some of its assets into cash," he said.
Last Friday, …
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