Disposed of 60% stake in PT Cimanggis-Cibutung Tollways. PLUS had on 28 Jul 10 ntered into a conditional sale and purchase agreement with PT Bakrie & Brothers TBK to dispose of its 60% stake in PT Cimanggis Cibutung Tollways (which undertakes and implements the Cimanggis-Cibutung toll road project) for Rp57.8bn (or RM20.2m). Assuming the transaction is to complete by 1QFY12/11, PLUS will recognise a net gain of approximately RM1m on the disposal.
PLUS Expressways Berhad : Disposes Of 60% Stake In Cimanggis-Cibutung Tollways; Raises Traffic Volume Guid...
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