Asia
AE Multi Offloads Sinaran Advance Shares for MYR3.5 Million
AE Multi Holdings (KLSE:AEM) divested its entire stake in Sinaran Advance Group (KLSE:SINARAN) for around 3.53 million Malaysian ringgit in an open market transaction, according to a Tuesday filing to the Malaysian bourse.The disposal, which was completed on July 17, involved 32.3 million ordinary shares sold at 0.11 ringgit apiece, generating an estimated pre-tax gain of 1.81 million ringgit.The electronics manufacturer said the disposal was undertaken to realize its investment in Sinaran Advance at a favorable market price, improve the company's liquidity position and enhance cash resources for working capital.
KLSE:AEMKLSE:SINARAN
