Malaysia's Salcon sells China water concessions for $158 mln
KUALA LUMPUR, Sept 13 (Reuters) - Malaysia's water and wastewater engineering firm, Salcon Bhd, is selling its water concessions in China to Beijing Enterprise Water Group Ltd for 518 million ringgit ($158.04 million).
The disposal, which will give a net gain of 94.6 million ringgit to Salcon, will allow the company to strengthen its financial position and expand into property development, it said in a stock exchange filing on Thursday's evening. ($1 = 3.2775 Malaysian ringgit) (Reporting by Yantoultra Ngui; Editing by Edwina Gibbs)
