PETALING JAYA: PUC Bhd
is disposing of 1,177 ordinary shares or a 7.66% stake in NKL360 Malaysia Sdn Bhd to Huanming Tang for RM11.67mil.
In a filing with Bursa Malaysia, PUC said NKL360 Malaysia, which provides products, services and business solutions related to information technology, e-commerce, telematics, transportation and logistics, will cease to be an associated company of PUC.
“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 operations.
“The net proceeds from the proposed disposal is expected to be utilised as general working capital,” it said.
PUC said the proposed disposal will not have any material impact on the issued and paid-up share capital, substantial shareholders, gearing, net assets and earnings of the company.
It said the disposal will give a positive impact to the liquidity position of the company in the next 12 months.
