PUC to dispose of software and IP for RM22mil

PETALING JAYA: PUC Bhd has proposed to dispose of some software and intellectual property (IP) to G Solution Tech Sdn Bhd for RM22mil.

In a filing with Bursa Malaysia, PUC said the disposal will include all patents, copyrights, trade secrets and other IP rights.

“The proposed disposal is in line with the business direction of PUC and its subsidiaries to streamline its operation in order to focus on business and ventures which are viable and profitable in the future and will not affect PUC Group’s existing operation.”

PUC said the net proceeds from the proposed disposal, after deducting all fees and expenses, is expected to be utilised as general working capital.

“The proposed disposal is subject to due diligence to be conducted by the purchaser in respect of the asset to assess the suitability, fitness and adaptability of the asset for the purchaser’s intended usage, subject to the purchaser’s payment of the deposit,” it said.