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KUALA LUMPUR (Oct 2): Takaso Resources Bhd plans to dispose of its wholly-owned Thai subsidiary Takaso SC (Thailand) Ltd (TSC) to Lay Hong Bhd for RM9 million cash.In a filing with Bursa Malaysia today, Takaso said it has accepted a conditional letter of intent (LOI) dated Sept 22, 2015 from Lay Hong to consider acquiring TSC from Takaso."Takaso wish to concentrate on the existing local business of rubber related products and decided not to further expose the group’s risk. Furthermore, the current weakening ringgit will require Takaso to incur additional cost of investment," it said.TSC is currently dormant and was intended for the distribution and marketing of rubber related products and manufacturing and marketing of food business. The company, however, owns two factory buildings and a piece of land in Sadao District, Songkhla, Thailand.Takaso said the property was purchased for 25 million baht (RM3.02 million).
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