Serba Dinamik exits investment in CSE Global
KUALA LUMPUR: Serba Dinamik Holdings Bhd said it has completed the disposal of its entire stake in CSE Global Ltd for S$57.67mil (RM177.3mil) cash.
Serba Dinamik, in April 2018, paid RM170.57mil for the 25.2% stake in the Singapore-listed technology company.
The disposal of the 128.16 million shares in CSE Global were done in the open market, the company said in a filing with Bursa Malaysia today.
''The initial objective of Serba Dinamik acquiring CSE Global is to amongst others, leverage on CSE global presence and its client base in the oil and gas industry as well as to strengthen the group’s IT segment,'' it said.
''The disposal is timely as our initial objectives have been met where the group has achieved the relevant financial targets and international presence,'' it added.
Proceeds from the disposal, Serba Dinamik said, will be deployed into other ventures.
08 Jul 2020
