Muda disposes stake in KL Resources

PETALING JAYA: Muda Holdings Bhd’s indirect 70%-owned subsidiary, Intrapac (Singapore) Pte Ltd, has inked an agreement to dispose of the remaining 84,413 ordinary shares representing 16.88% of the issued and paid-up capital of KL Resources Pte Ltd for a total cash consideration of S$6.71mil (RM23mil).

In a filing with Bursa Malaysia, the firm said the disposal would provide an opportunity for it to realise its investment at an attractive return and generate funds. — Bernama