PETALING JAYA: The major shareholders of PCCS Group Bhd
, via CCSB Sdn Bhd, are buying out non-earnings accretive wholly-owned subsidiary Mega Label (M) Sdn Bhd (MLMSB) and Mega Label (Penang) Sdn Bhd for RM8.5mil.
This disposal will result in a one-off gain of RM6.26mil and also see PCCS’ cash level increasing by RM38mil, the textile firm said in a statement.
This will give PCCS a total cash balance of about RM95mil.
...