PETALING JAYA: Beshom Holdings Bhd
’s wholly-owned subsidiary, Hai-O Enterprise Bhd, has sold a 45% stake in loss-making Yan Ou Holdings (M) Sdn Bhd for RM337,058, reducing its holding from 60% to 15%.
In a filling with Bursa Malaysia, Beshom said Yan Ou has largely operated at a loss, with accumulated reduction in its net assets exceeding RM5mil over the last 13 years. As at the date of disposal, the net assets of Yan Ou stood at RM611,000.
“The disposal is expected to benefit the group by mitigating further losses, given the low prospects of Yan Ou to achieve a turnaround from the continuous losses incurred.
“The disposal will also allow the group to streamline its business operations and deploy its financial and resources more efficiently to areas with better growth prospects,” it said.
Following the disposal, Yan Ou is no longer a subsidiary of Beshom or Hai-O.
Beshom said the sale is determined on a “willing-buyer willing-seller” basis, after taking into consideration the financial position and performance of Yan Ou.
Following the disposal, Yan Ou is no longer a subsidiary of Beshom or Hai-O.
