KUALA LUMPUR, June 19 (Bernama) -- TWL Holdings Bhd's (TWL) wholly owned subsidiary TWL Builders Sdn Bhd has acquired a 45 per cent stake in Fairise Odyssey (M) Sdn Bhd (FOSB), comprising 45,000 ordinary shares of RM1 each for RM42 million.
TWL Holdings is an investment holding company primarily in property development, construction, healthcare and plantations.
The principal activity of FOSB is property investment.
In a filing with Bursa Malaysia today, TWL said the acquisition would be financed through internally generated funds.
“The acquisition allows for business growth and financial stability by creating new opportunities and increasing revenue for the group. It helps strengthen resources and support future projects.
“The acquisition is not subject to the approval of TWL shareholders or any relevant authorities,” said TWL.
-- BERNAMA
