Dialog sells stake in Saudi firm

PETALING JAYA: Dialog Group Bhd’s indirect subsidiary, Dialog (Labuan) Ltd, has disposed of 1,200 shares or its entire 60% stake in Dialog Services Saudi Arabia Company Ltd (DSSA) to Sedres Trading & Maritime Services Co Ltd for 6.6 million riyal (RM7.7mil).

In a filing with Bursa Malaysia, Dialog said DSSA was principally involved in the contracting of petroleum and petrochemical-related works, and trading in specialty chemicals and equipment in Saudi Arabia.

The share sale results in no gain or loss to Dialog, with the proceeds going towards working capital purposes, it added.