KUALA LUMPUR: Puncak Niaga Holdings Bhd’s wholly-owned subsidiary, TRIplc Bhd, is disposing of 100 per cent stake each in three dormant and loss-making units for a total cash consideration of RM3 as part of efforts to streamline its corporate structure and reduce costs.
The three companies involved in the proposed disposal are Layar Kekal (M) Sdn Bhd, Samasys Sdn Bhd and Tirai Gemilang Sdn Bhd, each to be sold for RM1, Puncak Niaga said in a filing to Bursa Malaysia today.
Puncak Niaga said the three entities have been inactive and have incurred losses since its acquisition of TRIplc Bhd on May 31, 2018, for RM210 million, while the total cost of investment in the three companies was RM150 million.
“The board is of the opinion that the cash consideration of RM1 on each company is reasonable, as it enables the group to streamline its structure and achieve cost savings on annual statutory fees,” it said.
According to the latest audited financial statements for the financial year ended Dec 31, 2024, Layar Kekal, Samasys and Tirai Gemilang recorded net losses of RM5.38 million, RM5.11 million and RM5.30 million respectively and all three companies had net liabilities of RM3,400 each.
Puncak Niaga also clarified that the announcement of the disposal was delayed because the company only received the duly stamped share sale agreements in the late evening of July 30, 2025.
“As the stamping of the agreements is essential to formalise the transaction, the company proceeded to make the announcement on the next market day — July 31, 2025.
“The short delay also required to complete internal verification and ensure compliance with Bursa Malaysia’s disclosure requirements under the Main Market Listing Requirements,” it added.
Puncak Niaga also disclosed that all three companies share the same set of directors, namely Tan Sri Rozali Ismail, Taufik Afendy Othman, Azlan Shah Rozali, Faridatulzakiah Mohd Bakhry, and Mohammad Shahree Shamsuddin.
Copies of the audited financial statements for the financial year ended Dec 31, 2024, and May 31, 2018, are available for inspection at Puncak Niaga’s registered office in Shah Alam for a period of three months from the date of this announcement.
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