PETALING JAYA: Kumpulan Jetson Bhd
is disposing of its entire stake in adhesives and sealants manufacturer GRP Sdn Bhd to Ng Boon Hong for RM14.8mil.
In a filing with Bursa Malaysia, the construction firm said RM3mil will be satisfied by the purchaser in cash, and the remaining RM11.8mil will be satisfied via the assumption of indebtedness.
“The disposal will enable the group to streamline, strengthen and optimise its manufacturing portfolio as the group continues to sharpen its focus on core capabilities as a tier-one, anti-vibration automotive parts manufacturer.
“This divestment is another step forward in reshaping the company into a more focused, agile and financially resilient organisation,” it said.
The company said the net proceeds from the disposal will be utilised for general corporate purposes.
