KUALA LUMPUR (June 19): TWL Holdings Bhd (KL:TWL) has acquired a 45% stake in a property investment company for RM42 million, as the group seeks new revenue opportunities and support for future projects.
The group, through its wholly owned subsidiary TWL Builders Sdn Bhd, acquired the stake in Fairise Odyssey (M) Sdn Bhd from Lam Boon Ling, according to a Bursa Malaysia filing on Friday.
The purchase will be funded entirely through internally generated funds, with no liabilities to be assumed by TWL under the acquisition.
Fairise Odyssey, incorporated in 2010, is principally involved in property investment and has an issued share capital of RM100,000. Its directors are Lam and Ta Jin Kiat.
TWL said the acquisition is expected to create new business opportunities, increase group revenue and strengthen its resources for future projects.
However, the acquisition is not expected to have any material impact on the group’s earnings or net assets for the financial year ending June 30, 2026.
Shares in TWL closed unchanged at 2.5 sen on Friday, giving the group a market capitalisation of RM166.4 million.