Glomac to exit WHA Glomac Alliance
Publish date: Wed, 14 Sep 2011, 07:14 PM
Glomac Bhd has proposed to dispose of its entire 49 percent equity interest in WHA Glomac Alliance Co Ltd, a company incorporated in Thailand, for a total consideration of Baht 286,913,696.00 or
RM30,917,424.14.
The share sale and purchase agreement was signed between Glomac Thailand Sdn Bhd, a subsidiary of Glomac, with WHA Corporation Co Ltd today.
"The board, having considered all aspects of the proposed disposal, is of the opinion that the proposed disposal is in the best interest of the Glomac Group," Glomac said in a filing with Bursa Malaysia.
The proposed disposal is expected to be completed by end of September 2011. -- Bernama
RM30,917,424.14.
The share sale and purchase agreement was signed between Glomac Thailand Sdn Bhd, a subsidiary of Glomac, with WHA Corporation Co Ltd today.
"The board, having considered all aspects of the proposed disposal, is of the opinion that the proposed disposal is in the best interest of the Glomac Group," Glomac said in a filing with Bursa Malaysia.
The proposed disposal is expected to be completed by end of September 2011. -- Bernama
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luckyman
Its cash pile is going up again, not to mention the extraordinary gain from the disposal which was completed by end of Sept. Perfect timing for quarterly result reporting. :-)
2011-10-16 21:59