Jadi Imaging to submit documents to remit RM20m sale proceeds to Malaysia

TheEdge Thu, Dec 27, 2018 08:10pm - 5 years View Original


KUALA LUMPUR (Dec 27): Jadi Imaging Holdings Bhd said today it has made the tax payment to Jiangsu Local Taxation Bureau, China in relation to the proposed disposal of its wholly-owned subsidiary Jadi Imaging Technologies (Suzhou) Co Ltd to Xue Cheng Cai and Xu Xue Hua for RM20.33 million.

On Oct 12, the shareholders of Jadi Suzhou were changed from Jadi to the two individuals and was effected on Sept 10.

"The company is now proceeding to the submission of documents to the state administration of foreign exchange for the proceeds to be remitted to Jadi in Malaysia," said Jadi in a filing with Bursa Malaysia today.

It added that the proposed disposal is expected to be completed by the first quarter of 2019 and that it will make an announcement on the completion of the proposed disposal in due course.

Jadi shares were untraded today. It last closed at 3 sen, bringing it a market capitalisation of RM28.26 million.

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