AMOS (SGX:49B), through a joint venture agreement with CR3, agreed to dispose of 12% stake in AMOS Supply, AMOS Malaysia and respective subsidiaries for around SG$1.7 million, according to a Thursday filing with the Singapore Exchange.
The subsidiaries are engaged in the energy logistics, rigging, lifting, marine supply and other related businesses.
Proceeds raised from the disposal will be used to reduce indebtedness and for working capital.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.