Malaysia's water and wastewater engineering firm, Salcon Bhd, is selling its water concessions in China to Beijing Enterprise Water Group Ltd for 518 million ringgit ($158.04 million).

The disposal, which will give a net gain of 94.6 million ringgit to Salcon, will allow the company to strengthen its financial position and expand into property development, it said in a stock exchange filing on Thursday's evening.

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