?The proposed project, if materialised, could provide Tan Chong Motor with opportunity to expand its foothold in the automotive industry in Vietnam,? the company said in a filing with Bursa Malaysia last Friday
KUALA LUMPUR: Hiap Teck Venture Bhd
has proposed to dispose 20% stake in Eastern Steel Sdn Bhd (ESSB) for RM139.3mil to Shanxi Jialong Industry Co Ltd (Jianlong).
In a filing with Bursa Malaysia Wednesday, Hiap Teck said the company had on April 3 entered into an equity and debt transfer agreement with Jianlong for the disposal of 89.52 million shares of 20% stake in ESSB for a total cash consideration of Renminbi 225.6 million, equivalent to approximately RM 139.3mil.
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