Pelikan, subsidiaries to dispose of business undertakings in four countries

Pelikan’s profitability target is achievable as the worst is over for the company.

KUALA LUMPUR: Stationery company Pelikan International Corp Bhd and its key subsidiaries involved in the manufacturing, sales and distribution of re-manufactured toner, inkjet cartridge and nylon ribbons are disposing of business undertakings in Germany, France, the Czech Republic and China for RM30mil.

The proposed disposal would cut losses to the group and also result in a stable stream of income through royalty earned with the trademark licensing arrangement, Pelikan said in a filing with Bursa Malaysia.