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Home / News / Ma

ecoWise fully disposes stake in Saiko Rubber (Malaysia) for $5.8 mil

M&A

ecoWise fully disposes stake in Saiko Rubber (Malaysia) for $5.8 mil

Felicia Tan Published on Wed, Apr 28, 2021 / 11:09 PM GMT+8

ecoWise Holdings has disposed of its 51% stake in Saiko Rubber (Malaysia) for a consideration of RM18 million ($5.8 million).

The sale and purchase agreement was entered into by ecoWise’s subsidiary Sunrich Integrated and Kasan Corporation for the sale of 357,000 ordinary shares in Saiko.

Prior to the disposal, ecoWise owned 51% in Saiko while the remaining 49% was owned by Kato Sansho.