ARB to sell remaining 51% in timber unit for RM5.6mil

ARB executive director Datuk Seri Liew Kok Leong (pic) said the divestment would enable the group to channel its strength and capabilities on activities that were aligned with its IT business, namely enterprise resource planning and the Internet of Things, which constituted the main driver of the group’s earnings contribution.

PETALING JAYA: ARB Bhd has proposed to dispose of its remaining 51% stake in timber company Aturmaju (Sabah) Holding Sdn Bhd (AHSB) for a cash consideration of RM5.6mil.

The company, which is primarily an IT software and platform provider, said it had entered into a conditional share sale agreement with AY Brothers Sdn Bhd for the exercise, which is part of the group’s strategic plan to transform ARB’s business position from the timber sector to the information technology (IT) sector.