TDM Executive Director Najman Kamaruddin said the CSPAs involved a cash consideration of RM115 million. “With the significant cost savings and capital generated from the disposal, TDM can focus its resources and attention on the company’s operations in Malaysia. Najman said TDM owned 93.8% of RKA, which was incorporated in 2007; and 95% of SRA, which was incorporated in 2011. He said RKA had suffered losses since its incorporation until financial year ending Dec 31, 2020, while SRA had suffered losses since its inception. “The remaining RM8.5 million will be used for expenses related to the disposal exercise.

Source: The Edge Markets July 31, 2022 21:49 UTC