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Ecobuilt to Sell Entire Stake in Wholly-Owned Arm Eko Bina

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Ecobuilt (KLSE:ECOHLDS) has agreed to sell the entire 100% equity interest in Eko Bina to contractor Abdul Harun Bin Mad Talip for 1 ringgit, according to a Thursday filing to the Malaysian stock exchange.

The company said the proposed disposal is aimed at providing an orderly commercial exit from Eko Bina and reducing its continuing exposure to the subsidiary's financial and operational uncertainties.

This will allow Ecobuilt's management to focus its resources on the group's continuing businesses, the company said.

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