PETALING JAYA: PRG Holdings Bhd
is exiting its confinement services business by disposing of its entire 26.21% stake in Esther Postpartum Care Sdn Bhd (EPC) for RM1.
In a filing with Bursa Malaysia, the manufacturing, property and construction company said its wholly-owned subsidiary PRG Healthcare Sdn Bhd had entered into a shares sale agreement with Chou Chia Ching, who is the largest shareholder of EPC, for the disposal of 807,721 shares or the 26.21% stake in EPC.
PRG said the proposed disposal aligned with its strategic focus on its core businesses.
“Since the acquisition in 2018, EPC has not delivered any profits, and PRG’s 26.21% equity stake classified solely as an investment does not confer any control over EPC’s operations. This investment has been fully written off in the group’s accounts,” it said.
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