PETALING JAYA: Pelikan International Corp Bhd is transferring RM1.05bil worth of assets worldwide to its 71.32%-owned Germany-listed subsidiary Herlitz AG at a discount, as the struggling stationery maker seeks to boost current stock valuations and raise fresh funding for future growth.
The assets, which involve the group’s existing operations in Japan, Europe, the Middle East and the Americas, generated a turnover of RM1.015bil in the financial year ended Dec 31, 2013.
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