KUALA LUMPUR (Oct 9): AIMAX Bhd (KL:AIMAX), formerly known as Hong Seng Consolidated Bhd, has agreed to sell two companies to Datasonic Group Bhd (KL:DATASONIC) for a combined RM15.12 million as part of a plan to partially settle an outstanding debt owed by the group.

Under a share sale agreement (SSA), AIMAX will dispose of its entire equity interest in IF Security Solution Sdn Bhd (IFSS), comprising one million shares, to Datasonic for RM1 million.

Separately, AIMAX’s wholly-owned subsidiary AIMAX Assets Sdn Bhd has agreed to sell its entire equity interest in Premiumway Development Sdn Bhd (PDSB), also comprising one million shares, to Datasonic for RM14.12 million.

PDSB owns two adjoining properties in Petaling Jaya, Selangor, measuring 42,009 sq ft and 14,810 sq ft, respectively. The larger property currently serves as AIMAX Group’s corporate and operations office and has been earmarked for a proposed smart card personalisation centre to be developed by IFSS.

IFSS is involved in smart card personalisation and related solutions and services.

As at Sept 30, 2026, AIMAX Healthcare Sdn Bhd, a wholly-owned subsidiary of AIMAX, owed RM54 million to MMR Capital Sdn Bhd, a licensed moneylender and an indirect wholly-owned unit of Datasonic, under a loan facility obtained for the group’s working capital requirements.

MMR Capital has agreed to waive RM2.02 million of the outstanding amount, reducing the debt to RM51.98 million.

AIMAX said the proposed disposals form part of a settlement arrangement under which the consideration for the two companies will be set off against the outstanding debt. The transactions will therefore partially settle the group’s obligations to MMR Capital.

The proposed disposals are expected to be completed in the fourth quarter of 2026, subject to the terms and conditions of the respective SSAs.

AIMAX shares closed 0.5 sen or 50% lower at 0.5 sen on Friday, giving the group a market capitalisation of RM14.05 million. The stock has lost half its value so far this year.

Datasonic shares rose one sen or 3.45% to 30 sen, valuing the group at RM1.05 billion. The stock has gained 7.14% year to date.