KUALA LUMPUR: Thong Guan Industries Bhd
(TGIB) today entered into a conditional share sale agreement with Foremost Equals Sdn Bhd (FESB) to sell its entire 100 per cent stake, consisting of 3,735 ordinary shares in Syarikat Thong Guan Trading Sdn Bhd (STGT), for RM60 million.
The proposed disposal is regarded as a related party transaction in view of the interests of certain directors and major shareholders of TGIB in the sale as FESB is a major shareholder of TGIB.
