Malaysia's DRB says sells bus assets for $46 mln

Newswire

KUALA LUMPUR, Oct 29 (Reuters) - Malaysian motor group DRB-Hicom Bhd said on Wednesday seven of its public transport units sold their bus assets to state agency Syarikat Prasarana Negara Bhd for 176.9 million ringgit ($46.6 million). DRB-Hicom said in a statement the deal would be paid in cash, but added it did not expect any significant effect on group net tangible assets or earnings during the fiscal year ending March 31, 2004. "Going forward, the proposed disposal of its loss-making ...

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