KUALA LUMPUR: Sitt Tatt Bhd has disposed of its 30% stake in associate company Air Products STB Sdn Bhd (APSTB) for RM70mil to Prodair Corp of the United States.
Sitt Tatt told Bursa Malaysia the disposal enabled it to unlock the value of its investment in APSTB. The cash would be used for working capital to fund the expansion of existing businesses as well as finance any new opportunities for the group. It would also be used to repay bank borrowings, thus lowering overall interest expense, the company said.
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