Dance performing byA&W mascot during of Launching of Maybank Sales and Service centre and A&W Restaurant.
KUALA LUMPUR: KUB Malaysia Bhd
said its wholly-owned subsidiary Restoran Kualiti Sdn Bhd (RKSB) and its unit, A&W (M) Sdn Bhd, have entered into a share purchase agreement with Kulpavee Chalermmeateewong, a Thai citizen, to transfer 88.29% share of A&W Restaurants (Thailand) Co Ltd (AWT) for RM3.69mil.
In a filing with Bursa Malaysia, KUB said on completion of the transfer, involving 618,000 units of shares, AWT would cease to be its subsidiary.
The purchaser will assume the liabilities encompassing trade creditors of RM0.29mil and other creditors of RM0.23mil following the completion of the proposed transfer.
“The transfer will enable KUB to realise its investment that is not considered as strategic and synergistic to its other operations, and at the same time, to focus on the company’s core businesses,” it said.
Meanwhile in a separate filing, KUB announced that its wholly-owned subsidiary, KUB Builders Sdn Bhd (KUBB), has entered into a share sale agreement with Dynacorp Asset Management (M) Sdn Bhd to dispose of 30 million shares representing a 100 per cent stake in KUBB for RM2.
On completion of the disposal, KUBB will cease to be a subsidiary of KUB.
“The disposal will enable KUB to exit a business area that is not considered as strategic and synergistic to its other operations,” it said. - Bernama
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