Friday 29 Mar 2024
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KUALA LUMPUR (June 14): ACE market-listed Nexgram Holdings Bhd has disposed of its entire equity interest in six subsidiaries, in an effort to streamline its business activities with the intention to focus on property development.

In a filing to Bursa Malaysia, Nexgram said it sold its stake in Nextnation Network Sdn Bhd, Dubaitech Marketing Sdn Bhd, Tech Bonanza Sdn Bhd, Taffu Media Sdn Bhd and Divamas Promotions Sdn Bhd for a total of RM1,000.

Nextnation and Dubaitech are principally engaged in programming services and software development while Tech Bonanza is engaged in the business of providing multiple gateways for technology enabling and content provisioning services.

Taffu Media and Divamas are both in the business of media advertising, publishing and printing services.

The group also announced in a separate filing that it has disposed of Kontrek Anugerah, its subsidiary that provides machinery and equipment related to property development, for RM100.

All the companies were sold to an individual, Muthukaruppan Sinnathamby.

Nexgram's share price closed up 14.3% to 4 sen, for a market capitalisation of RM68 million.

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