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KUALA LUMPUR: Jasa Kita Bhd (JKB) has proposed to dispose of its entire stake in logistics services provider Jasa Bonded Warehousing Sdn Bhd to Sin Kak Won and Wong Chee Kheong for RM3.1mil cash.

Of the total amount, JKB said 90% or RM2.79mil would be paid by Sin, with the remaining to be paid by Wong.

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“The proposed disposal is in line with JKB Group’s direction to dispose of non-strategic and non-contributing businesses.

“The disposal would also enable JKB to focus on its business operations in strengthening its trading businesses for power tools, hand tools and bathroom products,” it said in a filing with Bursa Malaysia. — Bernama