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.
