MUIB to dispose of 65.9% stake in PMHB for RM36.7mil

KUALA LUMPUR: Malayan United Industries Bhd (MUIB) has proposed to dispose of 65.9% stake in Pan Malaysia Holdings Bhd (PMHB) for RM36.7mil.

In a filing with Bursa Malaysia, MUIB said its subsidiaries, Loyal Design Sdn Bhd (LDSB), MUI Media Ltd (MML) and Megawise Sdn Bhd (MSB) have entered into a sale and purchase agreement (SPA) with Exsim Hospitality Holdings Sdn Bhd to dispose of 612.12 million ordinary shares in PMHB, representing 65.90% of the total issued share capital of PMHB.