The divestment is part of GFG's strategy to focus on growing its core platforms in Property Management and Property Technology (Prop-tech) business activities. The divestment of the room rental operation will result in an estimated net gain of RM32 million. "However, our strategic priorities include an increased focus and allocation of resources toward Property Management and Prop-tech. GFG has also extended its 1-Stop Rental Property Management services to Property Developers with Overhang inventory - turning unsold inventory into cash flow generation assets via rental returns. Today, GFG Group is Malaysia's Largest and Pioneer in Room Rental and Property Management business.

Source: The Edge Markets August 02, 2021 15:56 UTC