Tex Cycle to acquire 60% stake in SEL for RM8.4mil

Tex Cycle CEO Gary Dass Anthony Francis

KUALA LUMPUR: Tex Cycle Technology (M) Bhd has proposed to acquire a 60% stake in Safety & Environmental Laboratory Sdn Bhd (SEL) for RM8.4mil to enhance its environmental testing and compliance services.

In a filing with Bursa Malaysia, the waste management and recycling solutions provider said it entered into a term sheet with Kaliswaran Palanisamy to acquire 450,000 ordinary shares representing 60% of equity interest in SEL.