MUI to sell significant stake in Pan Malaysia

PETALING JAYA: Malayan United Industries Bhd (MUI) is expected to make a loss of RM1.23mil from the proposed disposal of a significant portion of its stake in Pan Malaysia Holdings Bhd (PMHB) for a total consideration of RM36.73mil.

In its filings with Bursa Malaysia, the diversified group announced it had disposed of 612.12 million PMHB shares, representing approximately a 65.9% equity interest in the company to Exsim Hospitality Holdings Sdn Bhd. The exercise was completed yesterday through a direct business transaction.