Thursday, 23 May 2019
Perangsang Selangor to focus on four business sectors
SHAH ALAM, May 23 (Bernama) -- Kumpulan Perangsang Selangor (Perangsang Selangor) Bhd will focus on four business sectors to ensure the success of its Business Transformation Plan (BTP).
Its chairman Raja Shahreen Raja Othman said the four sectors are manufacturing, trade, licensing and infrastructure which could increase the company’s future potential.
“The step was taken as we are not involved anymore in the water industry after we sold all our interest in Syarikat Pengeluar Air Selangor Holdings Bhd (Splash Holdings) to Pengurusan Air Selangor Sdn Bhd (Air Selangor), recently.
“Through the acquisitions that we have carried out since the BTP in 2016, we are extending our global reach while ensuring geographical, sectoral and product diversity. Combined, these efforts will further strengthen Perangsang Selangor’s position in the market place,” he told reporters after the company’s Annual General Meeting (AGM) here today.
SPLASH Holdings, a 30 per cent owned associate company of Peransang Selangor on April 24 has accepted a takeover offer of Pengurusan Air Selangor Sdn Bhd (Air Selangor) from Syarikat Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH) through the acquisition of 50,000,000 million of ordinary shares worth RM1.00 per share and 350,000,000 million Redeemable Unsecured Loan Stocks (RULS) of SPLASH for a total purchase consideration of RM2.55 billion.
He is confident the move would not only generate more income to Peransang Selangor but also to the company’s shareholders.
Meanwhile, Raja Shahreen also said Peransang Selangor will finalise the takeover of Toyoplas Manufacturing (Malaysia) through shareholders’ vote during their EGM end of next July.
“We have already entered a conditional sale sharing agreement with Toyoplas Consolidated Ltd for the purpose of the takeover before this and the votes are expected to be made this July,” he said.
