Wednesday, 25 May 2016
Perangsang Selangor Acquires Majority Stake In Aqua-flo, As It Pursues Realigned Investment Strategy
KUALA LUMPUR, 25 MAY 2016 – Kumpulan Perangsang Selangor Berhad (“Perangsang Selangor” or the “Company”), has successfully increased the Company’s stake in its existing investment in Aqua-Flo Sdn. Bhd. (“AFSB”). Following the completion of the exercise, Perangsang Selangor will now hold a 51% stake in AFSB which is involved in the sale of chemicals and equipment for the potable water industry and has been posting steady profits from 2003. Looking to the years ahead, the prospects for AFSB’s business are positive as well, as the company was recently awarded three (3) new contracts from Konsortium Air Selangor Sdn. Bhd, PNSB Water Sdn Bhd and Konsortium ABASS Sdn Bhd respectively, with a total estimated value of RM 98.11 million over a period of two years.
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