KUALA LUMPUR (April 22): Safety equipment manufacturer Fitters Diversified Bhd is selling its entire 72.27% stake in Molecor (SEA) Sdn Bhd, which manufactures PVC-O pipes, to Spain-based Molecor Tecnologia SI. Molecor Tecnologia currently owns 2.73% in Molecor SEA, while the remaining 25% stake is held by Sanlens Sdn Bhd. Molecor Tecnologia and United Sapphire have collectively offered a purchase consideration of RM30 million in aggregate for the proposed transactions. The effects of the proposed transactions will only be determined upon finalisation and execution of the definitive agreements. "The board is of the view that the proposed transactions are expected to improve the financial position of Fitters," it said.

Source: The Edge Markets April 23, 2022 02:02 UTC