KUALA LUMPUR: Rohas Tecnic Bhd
’s indirect wholly owned subsidiary, RBC Water Sdn Bhd, has entered into a binding term sheet with Korea Water Resources Corp (K-Water) to sell its entire 30 per cent equity interest in Phu My Vinh Construction and Investment Corp (PMV) for RM87.14 million.
In a Bursa Malaysia filing today, Rohas Tecnic said that the term sheet started on March 14, 2025, and will remain valid and effective until April 30, 2025.
"The provisions of the term sheet are intended to be used as a basis for the parties to enter into a definitive share sale agreement for the proposed disposal which shall be executed within the effective period upon terms to be finalised by the parties,” it said.
The proposed disposal is expected to enable Rohas Tecnic to unlock the value of its investment in PMV and generate immediate returns, strengthening its cash position and financial flexibility.
"This strategic move will allow the company to pursue growth initiatives and new investments that enhance long-term shareholder value,” it added.
PMV was incorporated in Vietnam on July 7, 2005, as a joint stock company.
The principal activities of PMV include investment, construction, and operation of water treatment plants and supply systems.
As at March 13, 2025, being the latest practicable date of the announcement, the issued share capital of PMV is Vietnamese dong 491 billion, comprising 49,100,000 ordinary shares.
K-Water is a corporation wholly owned by the South Korean government, responsible for water resource development and management in South Korea.
The principal activities of K-Water involve the construction, operation, and management of water facilities, waterworks, industrial complexes, special-purpose zones, sewage systems, and renewable energy facilities.
The issued share capital of K-Water is approximately RM35.16 billion.- Bernama
