PETALING JAYA: Rohas Tecnic Bhd

(RTB) is disposing of its entire 30% stake in Phu My Vinh Construction And Investment Corp (PMV) to South-Korea-based Korea Water Resources Corp (K-Water) for RM87.14mil.

In a filing with Bursa Malaysia, RTB said the proposed disposal will enable RTB to unlock the value of its investment in PMV and generate immediate returns, strengthening its cash position and financial flexibility. “This strategic move will allow the company to pursue growth initiatives and new investments that enhance long-term shareholder value.

The principal activities of Vietnam-based PMV include investment, construction and operation of water treatment plants and supply systems. K-Water is wholly-owned by the South Korean government and is responsible for water resource development and management in South Korea.