Zecon to dispose of 49 per cent stake in Zecon Medicare

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KUALA LUMPUR: Zecon Bhd (Zecon) plans to dispose of its 49 per cent stake in Zecon Medicare Sdn Bhd to the State Financial Secretary of Sarawak for RM155 million.

In a filing with Bursa Malaysia yesterday, Zecon said the proposed disposal would allow monetisation of its investment in Zecon Medicare, while

continuing to participate in the future operations of  the company via the

remaining 51 per cent equity interest.

“Barring any unforeseen circumstances and subject to all relevant approvals being obtained, the proposed disposal is expected to be completed by the

second quarter of 2018,” it added.

Meanwhile, Zecon would hold an extraordinary general meeting on April 6 in Kuching, to allow shareholders to vote on the disposal. — Bernama