PETALING JAYA: UOA Development Bhd
has terminated the shareholder agreement it had with Care Concierge Care Centre Sdn Bhd (CCCC), it said yesterday in a filing with Bursa Malaysia.
According to the statement, UOA Development noted it will now become sole owner and operator of its facility, Komune Care Centre Sdn Bhd in Cheras. The reason for the termination given was a divergence of business views.
UOA Development said the initial contract was made on Sept 9, 2021 with CCCC via two subsidiaries, Federaya Development Sdn Bhd and Regenta Development Sdn Bhd.
Upon termination, CCCC will transfer its 40% equity interest in Komune Care Centre, comprising 186,667 ordinary shares, to Federaya for RM500,000 cash. The termination will not have any financial impact on its earnings, gearing or net assets.
