KUALA LUMPUR: TWL Holdings Bhd
's wholly owned subsidiary, TWL Builders Sdn Bhd (TBSB), has acquired a 45% stake in Fairise Odyssey (M) Sdn Bhd (FOSB) for RM42mil.
In a filing with Bursa Malaysia, TWL said TBSB purchased 45,000 ordinary shares in FOSB, representing 45% of its issued share capital, from Lam Boon Ling.
FOSB is principally involved in property investment and has an issued share capital of RM100,000. Its directors are Lam Boon Ling and Ta Jin Kiat.
TWL said the purchase consideration for the acquisition will be financed through internally generated funds.
“The acquisition allows for business growth and financial stability by creating new opportunities and increasing revenue for the group. It helps strengthen resources and support future projects,” it said.
