Hap Seng Consolidated Bhd's (HSCB) wholly-owned unit, Hap Seng Auto Sdn Bhd, has signed a sale and purchase agreement with Great Horizon Ltd (GHL).
In a filing to Bursa Malaysia today, HSCB said, Hap Seng Auto would acquire
GHL's entire shareholding of 11.725 million ordinary shares of RM1 each,
representing 35 per cent of the issued and paid-up share capital in Hap Seng
Star Sdn Bhd, for RM41.38 million cash.
HSCB said upon completion of the proposed acquisition, Hap Seng Star would
become HSCB's wholly-owned unit and the company would be able to fully
consolidate the profit contribution from its automotive division. -- Bernama
In a filing to Bursa Malaysia today, HSCB said, Hap Seng Auto would acquire
GHL's entire shareholding of 11.725 million ordinary shares of RM1 each,
representing 35 per cent of the issued and paid-up share capital in Hap Seng
Star Sdn Bhd, for RM41.38 million cash.
HSCB said upon completion of the proposed acquisition, Hap Seng Star would
become HSCB's wholly-owned unit and the company would be able to fully
consolidate the profit contribution from its automotive division. -- Bernama
