By ANGELA TAN
CapitaLand Limited said on Wednesday that it has sold its entire 40 per cent stake in its joint venture company, TCC Capital Land Limited (TCL), to its joint venture partner TCC Land Co Ltd (TCC), for THB2,340.8 million (about S$97.1 million).
The sale is part of the group's ongoing strategy to enhance capital productivity, the Singapore property group said.
TCL is a company incorporated in Thailand and is principally engaged in the development of residential properties in Bangkok, Thailand.
After the sale, TCL has ceased to be an associated company of CapitaLand.
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