Publication Date:
Sun, 2010-07-11 14:54
The cash-strapped company's Limitless division is selling off its stake in a partnership with Malaysia's Bandar Raya Developments to develop waterfront land in the southern city of Nusajaya.
Limitless will generate about $23.8 million in the deal, according to a regulatory filing on Malaysia's stock exchange.
Limitless said in a statement Sunday that it continues "to review our business activity to reflect market conditions." The company's parent Dubai World needs cash as it works to pay back $23.5 billion in debt.
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