Malaysia's Salcon sells China water concessions for $158 mln

Reuters

KUALA LUMPUR, Sept 13 (Reuters) - Malaysia's water andwastewater engineering firm, Salcon Bhd, is sellingits water concessions in China to Beijing Enterprise Water GroupLtd for 518 million ringgit ($158.04 million).

The disposal, which will give a net gain of 94.6 millionringgit to Salcon, will allow the company to strengthen itsfinancial position and expand into property development, it saidin a stock exchange filing on Thursday's evening.($1 = 3.2775 Malaysian ringgit) (Reporting by Yantoultra Ngui; Editing by Edwina Gibbs)

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