NEWSROOM
 
ECM Libra to evaluate potential buyers of Ancom units
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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