RCMA Group Completes Sale of Shares in Syarikat Chuan Lee Rubber Sdn Bhd
Kuala Lumpur, Malaysia, 10 April 2018 – On 1 March 2018, RCMA Group Pte Ltd (“RCMA“) entered into a sale and purchase agreement with Dato’ Eng See Tuan, Eng Sai Soon and Datin Sho Leong (collectively the “Buyers“)(the “Agreement“) for the sale of RCMA’s 50% shares in Syarikat Chuan Lee Rubber Sdn Bhd (“Chuan Lee“)(the “Shares“).
RCMA is pleased to announce that the conditions pursuant to the Agreement have been satisfied and that the divestment of the Shares was completed on 10 April 2018.
Following completion, Chuan Lee has ceased to be an associated company of RCMA.
The Shares were originally purchased by RCMA from Dato’ Eng and Datin Sho in August 2015.