Article: Malaysia: Sumatec Bhd to dispose of shipping units for MYR 77 million.

Byline: pinto03

Bernama reported that Sumatec Resources Bhd has proposed to dispose of its shipping related subsidiaries to a newly incorporated company for MYR 77 million. The subsidiaries involved are Semado Maritime Sdn Bhd, Semua Shipping Sdn Bhd, Semua Chemical Shipping Sdn Bhd and Mini Tanker Chartering Sdn Bhd.

AmInvestment Bank Bhd in a statement to Bursa Malaysia said that Sumatec entered into a heads of agreement with Ethos Capital One Sdn Bhd, Employees Provident Fund and an MBO team comprising Bong Siet Fah, Captain Teng Keng Han and Captain Hu Tai Hui to effect the transaction.

AmInvestment Bank said that "ECO, EPF and MBO Team will ...

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