Kuala lumpur: TWL Holdings Bhd's (TWL) wholly owned subsidiary, TWL Builders Sdn Bhd, has announced its acquisition of a 45 percent stake in Fairise Odyssey (M) Sdn Bhd (FOSB). The acquisition involves 45,000 ordinary shares valued at RM42 million, with each share priced at RM1.

According to BERNAMA News Agency, TWL Holdings, an investment holding company, primarily focuses on sectors such as property development, construction, healthcare, and plantations. FOSB's main business activity centers on property investment. The acquisition will be financed using TWL's internally generated funds.

TWL's filing with Bursa Malaysia highlighted that the acquisition represents a strategic move to enhance business growth and financial stability. By acquiring this stake in FOSB, TWL aims to unlock new opportunities and boost revenue for the group. The deal is expected to fortify resources and support future projects for TWL Holdings.

The acquisition does not require the approval of TWL shareholders or any relevant authorities, as confirmed by TWL in their official statement.