SCGM to dispose of LSSPI for RM544.38mil

SCGM managing director Datuk Seri Lee Hock Chai

KUALA LUMPUR: SCGM Bhd has entered into a conditional share sale agreement (SSA) with Mitsui & Co Ltd and FP Corporation (FPCO) to dispose of its entire 100% stake in Lee Soon Seng Plastic Industries (LSSPI) for RM544.38mil cash.

The food packaging manufacturer, in a filing with Bursa Malaysia, said LSSPI is the sole subsidiary of SCGM and represented the entire core business of the group.