Goldis to dispose of Macro Kiosk for RM22.4m

PETALING JAYA (July 9, 2013): Goldis Bhd plans to dispose its 70% stake in Macro Kiosk Bhd (MKB), a mobile communication technology provider, for RM22.4 million.

The proposed disposal will be a management buyout (MBO) by Goh Chee Ken, Goh Chee Heng and Goh Chee Seng who are the chief executive officer, chief operating officer and head of corporate affairs of MKB respectively.

The purchasers collectively own 15.9% of the issued and paid up share capital in MKB.

The three purchasers had attempted an MBO with an offer of RM15 million back in 2011.

The 70% stake in MKB was originally acquired for RM105,000 on February 1, 2002.

Goldis reported that the expected gain on disposal of MKB will be about RM17 million.

Based on its audited financial statements for the year ended January 31, 2013 and the unaudited quarterly result for the period ended April 30 2013, the carrying amount of MKB shares held by Goldis is RM3.2 million and RM4.1 million respectively.

In line with Goldis' nature of business as a private equity investment company, the sale is a timely opportunity for the company to realise and unlock the value of its investment in MKB Group.

Goldis reported that the sale proceeds will be used for capital expenditure and investment in suitable opportunities.

"This includes investing in the equities of private companies operating in various sectors, including but not limited to education, aquaculture, municipal and waste water treatment, real estate, life sciences and information and communication technology sector," it said

At present, the company said it was unable to quantify the proportion to be reserved for working capital and investments.