The board of directors of Complete Logistic Services Berhad announced that the company had on May 28, 2014 entered into a Sale and Purchase Agreement with Jia Xuehai and Yap Ai Lieng for the disposal of the entire equity interest in GL consisting of 100,000 ordinary shares of MYR 1.00 each for a cash consideration of MYR 1,500,000 ('the Disposal'). Upon completion of the Disposal, GL will cease to be a wholly-owned subsidiary of CLSB. The Disposal is expected to contribute a gain of approximately MYR 1.5 million to the consolidated earnings of the company for the financial year ending March 31, 2015, which will also improve the earnings per share of the company.
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