Acrometa (SGX:43F) sold its 67% stake in loss-making subsidiary PT Acromec Trading Indonesia to Acromec Engineers' general manager for SG$5,000.
The buyer now holds a 100% stake in Acromec Trading Indonesia, which imports and distributes laboratory furniture and accessories and provides specialist engineering services.
Acrometa said the disposal is part of efforts to divest non-performing subsidiaries, according to a Monday filing with the Singapore Exchange.
PT Acromec Trading Indonesia has incurred consistent operational losses over the past three fiscal years, the filing stated.
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