Rohas Technic Berhad announced that HG Power Transmission Sdn a 86.8% owned subsidiary had entered into a share sale agreement with Ann Joo Metal for the disposal of IAC Electrical Sdn Bhd and the property the company sits on in Perak for RM12.8 million.
The disposals by HGPT of its 100% equity interest in IACSB is free from encumbrances but subject to terms and conditions of SSA at IACSB Disposal Consideration. Upon completion of the Disposal of IACSB, IACSB will cease to be an indirect subsidiary of Rohas.
HGPT is a contracting company involved in the installation of electrical transmission lines and provision of other related services. HGPT has its primarily operations in Malaysia, with a presence in Bangladesh and Nepal currently.
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