Hong Seng disposes 35pc stake in Pantasniaga for RM24mil

Hong Seng disposes 35pc stake in Pantasniaga for RM24mil

11 days ago

KUALA LUMPUR: Hong Seng Consolidated Bhd's (HSC) wholly-owned subsidiary, HS Bio Sdn Bhd (HS Bio), recently signed a share sale agreement with Nexterra Sdn Bhd (NSB) to dispose of a 35 per cent stake in Pantasniaga Sdn Bhd (PSB) for RM24 million. A filing with Bursa Malaysia showed that HS Bio's shareholdings in PSB will be reduced from the current 51 per cent to 16 per cent upon completion of the disposal. The disposal is expected to generate an estimated gain of approximately RM20 million for HSC.HSC executive director and HS Bio director Christopher Chan said the disposal is viewed as a positive move that provides a timely opportunity for HSC to immediately unlock and realise the value of the investment and assets in PSB.

Read the full story

It's better on the Lumi News app

โœ… Itโ€™s fast

โœ… Itโ€™s easy to use

โœ… Itโ€™s free

Switch to the app
lumi screenshot

An easier way to get news and share it ๐Ÿ”ฅ


Get the latest COVID-19 news


Share with your family & friends


Know when something trends

Read More

It's better on the app

Download it here for the best experience