KUALA LUMPUR: Asia Bioenergy Technologies Bhd (ABT) has disposed of its entire 8.88 million shares, representing a 2.33% stake, in T7 Global Bhd for RM3.65 million.

ABT said that the open market sale comes as part of the group’s decision to dispose of its non-performing investments into quoted securities.

In a filing today, the group said the shares were originally acquired for RM3.24 million.

T7 Global, formerly known as Tanjung Offshore Bhd, through its subsidiaries, is involved in energy, design and engineering, aerospace, education, manpower, property, and information communication technology.

ABT said the proceeds from the disposal will be channelled back to its technology incubator funds, which will be used for future investments in a three-year timeframe.

Shares in ABT settled 3.5% lower at 14 sen, giving it a market capitalisation of RM63.04 million.