Fajarbaru Builder Group (KLSE:FAJAR) unit Fajarbaru Land (M) agreed to sell 44.4% equity interest in BFB Project for 12.1 million ringgit.
The stake will be sold to Mayfair International Investments, according to a Monday Malaysian bourse filing.
Proceeds will be used to finance the group's working capital requirements, and for any potential future investments.
Shares fell over 3% on Tuesday's close.
Price (MYR): $0.42, Change: $-0.010, Percent Change: -2.33%
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