PETALING JAYA: Kumpulan Jetson Bhd
(KUB) is disposing of its entire stake in GRP Holdings Sdn Bhd to THH Electrical Engineering Sdn Bhd for RM12.8mil.
GRP Holdings’ principal activities include the manufacturing and selling of adhesives and sealants, as well as the trading of pharmaceutical products and medical devices.
In a filing with Bursa Malaysia, KUB said 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 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.”
KUB said the net proceeds of RM3mil arising from the disposal will be utilised within 12 months for working capital purposes to support the additional funding requirements of the company and its manufacturing subsidiaries.
