PETALING JAYA: Paragon Union Bhd
(PUB) is disposing of its entire stake in automotive carpet business Paragon Car Carpets & Components Sdn Bhd (PCCCSB) to Oceancash Pacific Bhd for RM13.42mil.
In a filing with Bursa Malaysia, the distributor of commercial carpets, rugs and car carpets said the disposal aligns with the group’s strategy to rationalise its operations by discontinuing the loss-making automotive carpet business and focusing on the growth of its recycling division.
“Accordingly, the group intends to monetise PCCCSB in order to focus on the recycling business, which has been profitable for the 18-month financial period ended June 30, 2025,” PUB said.
