Leong Hup unit to sell 20% stake in Teo Seng

KUALA LUMPUR: Leong Hup Holdings Bhd said its subsidiary Advantage Valuations Sdn Bhd (AVSB) has agreed to sell a 20% stake in Teo Seng Capital Bhd to Koperasi Permodalan Felda Bhd (KPFB) for RM18.6mil.

AVSB had entered into an agreement with KPFB on Sept 10 for the disposal of 40 million Teo Seng shares, which represented 20% of the issued and paid-up capital, Leong Hup said in a statement.