DSML in process to recover balance amount from buyer

MG News | July 06, 2022 at 02:03 PM GMT+05:00

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July 06, 2022 (MLN): Dar es Salaam Textile Mills Limited (PSX: DSML) informed on Wednesday that the management is concentrating on the recovery of the balance amount of the sale price regarding the successful disposal of the factory premises and the settlement of financial obligation thereof.

To note, on April 4, 2022, the company announced the disposal of the factory premises comprising land & building at the desired price.

The latest progress report of the company said that the recovery of the balance amount is being pursued and it is expected that the buyer would clear the account within the next 30 to 45 days,

Once the balance of the amount is fully recovered, the management will be in a better position to implement the envisaged business plan, it added.

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