KUALA LUMPUR (April 16): JcbNext Bhd (KL:JCBNEXT) has disposed of a 2.08% stake in Taiwan-listed 104 Corp for T$153.77 million (RM19.26 million) in the open market of the Taiwan Stock Exchange, as it continues efforts to diversify its investment portfolio and reduce concentration risk.

In a filing on Thursday, the digital marketing and advertising services firm said it had sold a total of 689,782 shares in 104 Corp between Oct 3, 2025 and April 16, 2026. The disposal decreases JcbNext’s holding in the Taiwanese company from 3.19 million shares to 2.5 million shares, equivalent to 7.52% equity interest.

“Based on the disposal consideration, the expected net gain arising from the disposals is RM9.6 million,” said JcbNext in a statement. The company had invested in the shares between Oct 1, 2007 and Dec 6, 2010, for a total of RM6.8 million.

The disposal, said the company, exceeded 5% of JcbNext’s audited consolidated net assets of the company for the financial year ended Dec 31, 2024 (FY2024).

The company originally held a 22% stake in the IT firm and started paring down its stake in June 2022, with gradual disposals made in the past years.

Proceeds from the disposals will go towards finding other investment opportunities that meet the group’s business objectives, said JcbNext. The group expects that it will take about two years to fully utilise gains from the share sale, depending on market conditions.

Shares in JcbNext closed unchanged at RM1.70 on Thursday, valuing the group at RM222.7 million.