One of the known buyers is another Malaysia-listed company, Paramount Corporation, which has acquired a 21.54% stake on EWI.
DBS Group Research has described Guocoland's divestment of its stake in KL-listed EcoWorld International as a strategic move to signal a sharper portfolio and management focus.
On May 10, Guocoland announced it has sold its entire 27% stake in EWI for $61 million, which is a 22% premium over its carrying value of $50 million.
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