KUALA LUMPUR (Dec 24): Pacific & Orient Bhd (POB) is disposing of its 21.91% stake in Singapore-based data software company HiringBoss Holdings Pte Ltd (HHPL) for US$19.83 million (RM83.11 million). The group said it is joining other shareholders of HHPL in selling their entire interests in HHPL to Access UK Ltd under an agreement signed on Friday (Dec 24). The proceeds from the disposal will be used to fund its working capital and future investments, the group said. The disposal will also result in a gain of US$17.88 million (RM74.94 million) for FY22, it said. POB’s shares closed up one sen or 1.07% higher at 94.5 sen, valuing the group at RM269.87 million.

Source: The Edge Markets December 25, 2021 00:54 UTC