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Article: MALAYSIA'S SCOMI ENGINEERING SELLS ITS ENTIRE STAKE IN SCOTS.
- Article from:
- AsiaPulse News
- Article date:
- March 21, 2007
CopyrightCOPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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KUALA LUMPUR, March 21 Asia Pulse - Scomi Engineering Bhd (KLSE:7366) is selling its entire stake in Scomi Transportation Solutions Sdn Bhd (SCOTS) for RM3.8 million (US$1.1 million) cash.
On 20 March 2007, Scomi Engineering signed an agreement to dispose 500,000 ordinary shares in SCOTS to ALD International Group Holdings GmbH.
SCOTS and its wholly-owned subsidiary, Asian Rent-A-Car Sdn Bhd (ARAC), are both involved in the business of providing motor vehicles for "Hire and Drive" and fleet management.
ALD is wholly owned by ALD International SA and operates as ALD Automotive, the operational leasing and fleet management business unit of the ...