| ANCOM Bhd said it hired ECM Libra
Avenue Securities Sdn Bhd to help evaluate potential buyers who have
indicated interest in the group's industrial chemical and logistics
units.
Ancom's industrial chemical business comes under Nylex (M) Bhd,
of which it directly owns a 38 per cent stake. The logistics division,
meanwhile, comes under several subsidiaries which are not listed.
Business Times had reported in October that the potential deals
could help Ancom raise more than RM100 million.
The sale is believed to be part of Ancom's plan to consolidate
its subsidiaries to boost its overseas profile. Its other listed
unit, Tamco Corp Holdings Bhd, had earlier sold off its switchgear
business for RM378 million.
Ancom, in a statement to the stock exchange, also said that ECM
would study a potential listing of Ancom logistics business and
Nylex chemicals businesses on the Singapore stock exchange.
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