An automated embroidery machine at the PCCS plant in Batu Pahat. - File pic
PETALING JAYA: The major shareholders of PCCS Group Bhd
, via CCSB Sdn Bhd, are buying out non-earnings accretive wholly-owned subsidiary Mega Label (M) Sdn Bhd (MLMSB) and Mega Label (Penang) Sdn Bhd for RM8.5mil.
This disposal will result in a one-off gain of RM6.26mil and also see PCCS’ cash level increasing by RM38mil, the textile firm said in a statement.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
