Vstecs exits Isatec in RM48.75mil deal
KUALA LUMPUR: Vstecs Bhd is disposing of its entire 40 per cent stake in Isatec Sdn Bhd to Singapore-based Skyform Pte Ltd for RM48.75 million, nearly 2.6 times its original investment cost.
KUALA LUMPUR: Isatec Sdn Bhd's acquisition by Singapore-based Skyform Pte Ltd for RM48.75 million has paved the way for Vstecs Bhd to unlock value from its minority, non-controlling investment at a premium valuation. According to BIMB Securities Sdn Bhd, the disposal of Vstecs' 40% stake in Isatec could net the company a RM22 million one-off gain after accounting for disposal expenses. This divestment will enhance Vstecs' financial flexibility and allow for capital redeployment in core business lines.
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Also reported by 1 other outlet
- Vstecs unlocks value in Isatec exit nst.com.my
