Ann Joo to dispose of its 51% stake in waste management firm for RM15mil

PETALING JAYA: Ann Joo Resources Bhd is proposing to dispose of its 51% stake in Bumi Segar Indah Sdn Bhd (BSI) to Ng Kwok Siong and DSI Northern Source Sdn Bhd for RM15.1mil.

In a filing with Bursa Malaysia, the steel company said BSI is principally involved in the business of supplying, assembling and commissioning equipment for waste management, and providing waste management and public cleansing management services.

Ann Joo said the disposal is part of its ongoing efforts to streamline its operations and focus on its core businesses.

“The proposed disposal is expected to result in a gain, which will be determined after taking into account the assets and liabilities of BSI upon completion of the share sale.”