KUALA LUMPUR, Puncak Niaga Holdings Bhd's wholly-owned subsidiary, TRIplc Bhd, has entered into two share sale agreements for the proposed disposal of 100 per cent equity interest in Zuriat Watan Sdn Bhd (ZWSB) to four buyers for RM83.62 million. In a filing with Bursa Malaysia, Puncak Niaga said TRIplc has entered into a share sale agreement with Jinze Sdn Bhd to sell 202,500 ordinary shares, representing a 4.5 per cent equity interest in ZWSB, for RM3.58 million (proposed disposal 1). TRIplc has entered into a separate share sale agreement with three other purchasers on Aug 27, 2024, to sell 4,297,500 ordinary shares, representing a 95.5 per cent equity interest in ZWSB, for RM80.04 million (proposed disposal 2). The purchasers under proposed disposal 2 are Leeway Holdings Sdn Bhd, DB Enneadrakon Group (M) Sdn Bhd and Sheng Dar Holding Sdn Bhd. Puncak Niaga said the proposed disposals are part of its strategy to monetise non-core assets to ease the group's cash flow. 'The disposals are expected to res ult in a proforma loss of about RM82.84 million to the group,' it said. The proposed disposal 1 is expected to be completed by the third quarter of 2024 and proposed disposal 2 in the fourth quarter of 2024. TRIplc intends to declare the disposal price, after deducting all fees and expenses relating to the proposed disposals, as a special dividend to Puncak Niaga, which will utilise the proceeds for its financial obligations amounting to RM20 million, general working capital (RM58.62 million), and to defray expenses related to the disposals (RM5 million). Source: BERNAMA News Agency