SMTrack Confirms Discussion With GLC On Stake Sale

CYBERJAYA 24 DISEMBER 2018. Executive Chairman SMTrack Berhad, Azmi Osman, (center), with Head of Finance Administration SMTrack Berhad, Tong Sian Shyen, (right) and Director Company SMTrack Berhad, Chow Hung Keey, (left) pose after the company's 13th Annual General Meeting at Tan'yaa Hotel, Cyberjaya. NSTP/AZHAR RAMLI *** Local Caption ***

SMTrack which has been on the news and rumours about a MOF-owned Government Linked Company eyeing a stake in the company has confirmed that a discussion is currently ongoing, however, it did add that negotiation is at an early stage.

This comes when a local daily reported a few days back that a GLC was looking to buy a 10 percent stake in the RFID technology firm. In a statement to the Stock Exchange, SMTrack informed that its Board of Directors is in an early stage of negotiation with a government-linked company of which no agreement has been reached at this juncture.

It continued that if in the event any decision or agreement is made in relation thereto, the Board will make the necessary announcement in compliance with the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad accordingly.

SMTrack further also clarified that on the rumours that a prominent “Datuk Seri” will become another substantial shareholder of the company”, it states that it is not aware or been notified of any prominent “Datuk Seri” who will become the substantial shareholder.

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