PUC Disposes Of Partial Stake In Pictureworks To MacOS For RM30 Mln

KUALA LUMPUR, May 8 (Bernama) -- Digital lifestyle service provider PUC Bhd had entered into a share sale agreement on Dec 31, 2025, to dispose of 3.03 million ordinary shares or 13.76 per cent equity interest in Pictureworks International Holdings Ltd (PIHL) to MacOS Ltd for RM30.0 million as a partial divestment of its investment in PIHL. 

In a filing with Bursa Malaysia today, PUC said the disposal would be satisfied entirely in cash, and upon completion, its equity interest in PIHL would be reduced to approximately 13.76 per cent from 27.53 per cent, while PIHL would thereafter be accounted for as an investment of PUC.

“Following the execution of the agreement, additional time was required to coordinate between the parties and to address certain administrative and cross-border requirements, including the implementation of the agreed transfer structure, prior to the proposed disposal being capable of being effected in full,” it added.

PUC said it had received the full sale consideration on Dec 31, 2025, which accordingly constitutes the completion date.

“The proposed disposal forms part of the company’s ongoing efforts to optimise its investment portfolio and enhance capital efficiency,” it added. 

PUC said the gross proceeds of RM30 million from the proposed disposal were intended to be utilised primarily for repayment of the group’s outstanding borrowings, and the balance for working capital requirements and strategic investments within its core businesses. 

It added that the proposed disposal is expected to result in a gain of approximately RM5.82 million, based on the difference between the disposal consideration of RM30.0 million and the carrying amount of the sale shares as at Dec 31, 2025. 

-- BERNAMA