K-One to sell GAP stake for RM94mil

PETALING JAYA: K-One Technology Bhd is proposing to dispose of its entire stake in G-AsiaPacific Sdn Bhd (GAP) to ITOCHU Singapore Pte Ltd and ITOCHU Corp for RM94mil.

In a filing with Bursa Malaysia, K-One said GAP is an information and communication technology solutions company.

It is principally involved as a provider and reseller of advanced cloud technology, infrastructure as a service, platform as a service, and software development, while offering professional services and consultancy across the entire cloud services lifecycle.

“The board opines that the proposed disposal represents a timely opportunity for the group to streamline its business portfolio.”