Efficient E-Solutions looking for new businesses

PETALING JAYA: Efficient E-Solutions Bhd, which completed the disposal of its entire equity stake in two wholly owned units to Canon Singapore Pte Ltd for RM75 million, is looking to identify potential profitable businesses as well as acquiring assets to expand its business in order to regularise its financial condition.
In a stock exchange filing yesterday, the company said it plans to expand the document management segment as well as other areas of business process outsourcing (BPO).
The company expects the proposed disposal to result in a one-off gain of RM51.7 million or 7 sen per share. It said it will come up with a regularisation plan as it intends to maintain its listing status.
The company had triggered Paragraph 8.03A(2) of the listing requirements whereby it has suspended or ceased all of its business or its major business as a result of the disposal of its entire equity interests in Efficient MailCom Sdn Bhd and Efficient Softech Sdn Bhd to Canon Singapore.
However, Efficient E-Solutions said its shareholders and potential investors should note that there can be no assurance the company will be successful in its expansion of the business in the document management segment and/or venture into other viable businesses to regularise its condition under PN17 of the listing requirements.
Efficient E-Solutions said it will inform Bursa Securities of any progress.