KUALA LUMPUR: ACE-market listed Diversified Gateway Solutions Bhd (DGSB) is selling its information technology (IT) consulting business in Thailand to focus on its food technology and manufacturing business at home.
The company, in a filing with Bursa Malaysia today, said it has agreed to dispose ISS Consulting (Thailand) Ltd to itelligence AG for RM32mil.
The business in Thailand contributed 83% of the DGSB consolidated revenue in financial year ended March 31, 2018.
"Upon completion of the proposed disposal, DGSB will continue its digital media and infrastructure services in Malaysia, and also growing its food technology and manufacturing business," the company said.
DGSB said it has allocated RM10mil from the proceeds of the disposal for working capital purposes.
The company also said it intends to declare a special cash dividend payout of RM6mil.
Did you find this article insightful?