PETALING JAYA: Atlan Holdings Bhd
is proposing to dispose of its entire issued and paid-up share capital in United Industries Holdings Sdn Bhd (UI) to Singapore-based Duty Free International Ltd for RM175mil.
In a filing with Bursa Malaysia, the automotive stamping firm said the disposal of its wholly-owned subsidiary is intended to strengthen the company’s financial position by providing additional capital to support its working capital requirements and drive the expansion of its property and hospitality business, as well as fund potential investments.
