PETALING JAYA: Arka Bhd, formerly known as Transocean Holdings Bhd

, is disposing its 40% stake in Enfrasys Solutions Sdn Bhd (ESSB) to Joy Jewel Sdn Bhd for RM43mil.

In a filing with Bursa Malaysia, the group said the sale represents a price-to-earnings (PE) multiple of 5.9 times based on Arka’s share of profit after tax attributable to owners of the company in ESSB Group for the financial year ending Dec 31, 2024 audited financial results.