AMDB Bhd, a diversified group, said it is selling 23.33 per cent of Central Spectrum (M) Sdn Bhd (CSSB), a property developer, for RM16 million cash as part of plans to sell non-core assets.

The buyer is Detik Jalur Sdn Bhd and AMDB will use the money for new projects and to fund working capital, it said in a statement to Bursa Malaysia yesterday.

CSSB is developing the Pulau Indah Industrial Park, which has industrial, commercial and residential properties.

It is developing the Selangor Halal Hub, Laguna Park and working on the infrastructure of the park.

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