PETALING JAYA: MKH Bhd
is disposing of its entire stake in Vast Furniture Manufacturing (Kunshan) Co Ltd (Vast Kushan) to China-based Kunshan Meiao New Energy Technology Co Ltd for RM49.53mil.
In a filing with Bursa Malaysia, the property development and construction firm said Vast Kushan is principally involved in the business of furniture manufacturing and rental of premises.
“The proposed disposal is in line with the group’s direction to focus on its core business in property development and construction, oil palm plantation and property investment.
“The proposed disposal will not have any material impact on the earnings per share of MKH Group for the financial year ending Sept 30, 2025.”
The company also said the disposal will not have any material impact on its consolidated net assets and gearing.
