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Categories
| Changhuat repositioning businesses |
| Business & Market 2009 | |||
| Written by The Edge Financial Daily | |||
| Thursday, 08 October 2009 21:51 | |||
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In a statement today, CCB said its subsidiary Changhuat Manufacturing Sdn Bhd would acquire the remaining 37% stake in Arus Dermaga Sdn Bhd (ADSB) from Ahmad Akmal Hamzah and Lim Kian Boon for RM26 million cash. CCB itself will dispose of its entire interests in its wholly owned subsidiary Changhuat Plastic Industries (Senai) Sdn Bhd (CPISSB) and its 63% Changhuat Plastic Industries Sdn Bhd to Wong Koon Sang and Lim Chung Kian for cash of RM23.1 million and RM5.08 million, after settlement of inter-company loans, respectively. ADSB carries out ship-to-ship operations for the transshipment of oil within the Johor Bahru Port and Tanjung Pelepas Port limit. It owns a floating storage vessel, a single hull very large crude carrier for its floating fuel storage facility.
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