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KUALA LUMPUR: SBC Corporation Bhd sold its 80% stake in Armada Bayumas for RM200,000.
In a filing to Bursa Malaysia on Thursday, Jan 27, the company said it sold 8,000 ordinary shares of RM1 each, representing 80% equity interest, in Armada Bayumas to YCH Development Sdn Bhd.
The principal activities of Armada Bayumas are property development and property management.
As the result of the disposal, Armada Bayumas has ceased to be a subsidiary of SBC Corporation.
"The rationale for the disposal is that Armada Bayumas has limited prospects in the SBC Group," it added.
In a filing to Bursa Malaysia on Thursday, Jan 27, the company said it sold 8,000 ordinary shares of RM1 each, representing 80% equity interest, in Armada Bayumas to YCH Development Sdn Bhd.
The principal activities of Armada Bayumas are property development and property management.
As the result of the disposal, Armada Bayumas has ceased to be a subsidiary of SBC Corporation.
"The rationale for the disposal is that Armada Bayumas has limited prospects in the SBC Group," it added.
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