PETALING JAYA: Vstecs Bhd
is proposing to dispose of its entire 40% stake in Isatec Sdn Bhd for RM48.75mil cash as it seeks to monetise the investment and redeploy capital into its core businesses.
The information and communications technology distributor said the disposal to Skyform Pte Ltd, a digital and artificial intelligence transformation services provider, is expected to be completed by the first quarter of 2027.
This is subject to conditions under the share purchase agreement.
Upon completion, Skyform will hold a 75% stake in Isatec after acquiring VSTECS’ 40% interest and another 35% from Isatec’s management shareholders.
VSTECS chief executive officer JH Soong said the disposal would allow the group to crystallise value created over seven years.
“Together with the dividends received from Isatec, we would have realised total cash returns of RM64.97mil, which is equivalent to approximately 3.46 times the original investment cost,” he said.
