KUALA LUMPUR: Property firm Paragon Globe Bhd, formerly known as Goh Ban Huat Bhd (GBH), has entered into a deal to dispose its ceramic wares business to power tools maker and distributor Jasa Kita Bhd for RM10.2mil.
Under the deal, Jasa Kita will purchase GBH Bathroom Products Sdn Bhd for RM4.85mil cash and take over Crown Lynn Sdn Bhd's liabilities of RM5.35mil.
The proposed acquisitions, Jasa Kita told the stock exchange today, will add established brands names such as GBH and Crown Lynn to its trading and distribution business.
Jasa Kita is the distributor of Makita power hand tools.
Jasa Kita said the two companies - GBH and Crown Lynn - will be "operated as additional business units" and are expected to contribute positively to the group by creating new revenue streams.
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