PETALING JAYA: Encorp Bhd is expected to gain RM8.7mil or 3 sen per ordinary share from the disposal of its unit Encorp Construct Sdn Bhd (ECSB).

In a filing with the stock exchange yesterday, Encorp said the disposal was part of a rationalisation and restructuring exercise undertaken by Encorp Group to do away with its non-core and loss-making subsidiary.

ECSB recorded an accumulated loss of RM43.4mil and net liabilities of RM28.4mil based on its audited financial statements for the financial year ended Dec 31, 2014.

An April report said that the group was looking to put its house in order by downsizing its troubled construction unit and moving into full-fledged property development status.

Felda is the ultimate parent company of Encorp’s single-largest shareholder, Felda Investment Corp (FIC), which owns 70.97% of Encorp.