Iris Corporation Bhd is selling its 75% stake in a Thai subsidiary PJT Technology Co., Ltd’s for US$24mil (RM103.15mil) to Yunnan Water (Hong Kong) Company Ltd.
Iris, which is involved in digital identity and farming, said on Monday the proposed disposal would enable it to unlock the value of assets which are not part of the company’s core business.
“The proposed disposal is in line with the company’s plan to strengthen its balance sheet,” it said, adding the sale would free the group from further investments into the Phuket plant.
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Iris, which is involved in digital identity and farming, said on Monday the proposed disposal would enable it to unlock the value of assets which are not part of the company’s core business.
“The proposed disposal is in line with the company’s plan to strengthen its balance sheet,” it said, adding the sale would free the group from further investments into the Phuket plant.
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