Published: 2009/09/04
MALAYSIA Smelting Corp Bhd (MSC) said it will sell its 30 per cent stake in the Rapu Rapu polymetallic project in Philippines which it bought on April 17 last year.
This is another non-tin asset that MSC is planning to sell apart from the recent proposed divestment of a 22.1 per cent stake in Australia 's gold mining company Beaconsfield Gold NL.
MSC told Bursa Malaysia the sale is in line with the company's focus to reduce cost and debt.
"The company has also decided not to proceed with the proposed bonus and rights issues in view of its decision to divest some of the group's non-tin assets," it said.
http://www.btimes.com.my/Current_News/BTIMES/articles/BURSMSC/Article/index_html
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