PETALING JAYA: Tafi Industries Bhd
has announced that it will not proceed with the proposed diversification of its trading segment to include standalone trading contracts for building materials.
In a filing with Bursa Malaysia, the group said it anticipates that the aggregate revenue to be generated from the trading segment may not contribute 25% or more of the net profits of the group or cause a diversion of 25% or more of the group’s net assets to an operation which differs widely from its existing segments.
Tafi is principally involved in construction, property development, manufacture and trading of furniture products and sales of solar panels, inverters, as well as solar related products and services.
The company announced the proposed diversification exercise last month as part of its strategy to further optimise its business profile.
