Friday 29 Mar 2024
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KUALA LUMPUR (April 14): Transocean Holdings Bhd is buying a 40% stake in Enfrasys Solutions Sdn Bhd from Enfrasys Consulting Sdn Bhd for RM20 million.

In a filing to Bursa Malaysia, the logistics company said the purchase consideration will be settled via issue of new shares at RM1 per share.  

“The purchase consideration is based on 10 times the guaranteed profit after tax of Enfrasys Solutions for the financial year ending Dec 31, 2021 (FY21) of RM5 million,” said Transoceas.

The issue price represents an approximate 18.84% premium to the five day-volume weighted average market price of Transocean shares up to and including April 13 of 84.15 sen, said the company.

Transocean  posted a net loss of RM2.82 million for FY20 compared with a wider loss of RM5.6 million the year before. Annual revenue came in lower at RM16.9 million in FY20 versus RM19.98 million previously.

Transocean shares were last traded at 88 sen on Tuesday.

Edited ByKathy Fong
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