<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on September 21, 2017 - September 27, 2017</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: PPB Group Bhd is disposing of its entire equity interest in Tefel Packaging Industries Co Ltd in Myanmar for US$2.4 million (RM10.06 million).</p></div>

<div class=newsTextDataWrapInner><p>PPB’s 79.9%-owned indirect subsidiary Tego Sdn Bhd inked an agreement to transfer its entire 100% stake in Tefel Packaging Industries Co Ltd — a polypropylene bags manufacturer — to Natthi Cholsaipant and Tanapat Cholsaipant.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Tego’s parent company is FFM Bhd, which is 80% owned by PBB and 20% by Wilmar International Ltd via PGEO Group Sdn Bhd.</p></div>

<div class=newsTextDataWrapInner><p>“The proposed disposal is an opportunity for the FFM group to divest an unprofitable non-core business activity,” PPB said in a filing with Bursa Malaysia.</p></div>

<div class=newsTextDataWrapInner><p>PPB said the purchase consideration was valued according to Tefel’s net book value of fixed assets of US$1.8 million and goodwill of US$600,000, as at end-December 2016</p></div>

<div class=newsTextDataWrapInner><p>To compete the stake sell, PPB said it will seek approval from the Myanmar Investment Commission, and the directors and shareholders of Tego.</p></div>

<div class=newsTextDataWrapInner><p>“The directors are of the opinion that the proposed disposal is in the best interests of the group,” said PPB, which also owns the Golden Screen Cinemas in the country.</p></div>


KUALA LUMPUR: PPB Group Bhd is disposing of its entire equity interest in Tefel Packaging Industries Co Ltd in Myanmar for US$2.4 million (RM10.06 million).

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<p>Malaysia’s construction industry may be growing at a healthy clip, but many contractors, particularly the smaller ones, may not be receiving their payments quickly enough.</p>

<p>This was the message of a panel discussion titled “Liquidity or liquidation: High-stakes construction projects in a...