PETALING JAYA, LFG Bhd has announced plans to dispose of one of its vessels for RM28 million as part of its ongoing strategy to streamline operations and optimise its asset portfolio.
In a filing with Bursa Malaysia, the company said the disposal involves a sale to a third-party buyer on an arm’s-length basis. The proceeds from the transaction are expected to strengthen the company’s balance sheet and support working capital requirements.
LFG, which operates in the shipping and logistics sector, said the move is in line with its efforts to focus on high-yield and strategic assets while divesting non-core or ageing vessels. “Disposing of the vessel allows us to redeploy resources more efficiently and enhance operational efficiency,” said a company spokesperson.
The company did not disclose the buyer’s identity but confirmed that the transaction is expected to be completed in the current financial quarter, subject to the fulfillment of conditions precedent. Analysts view the sale as a prudent move that could improve LFG’s cash position and provide flexibility for future growth initiatives.
