Focus Point disposes of stake in Optolab

PETALING JAYA: Focus Point Holdings Bhd is disposing of its entire 60% stake in Optolab Sdn Bhd, for RM30,000 to avoid further losses in its investment.

It told Bursa Malaysia that its wholly-owned subsidiary Esprit Shoppe Sdn Bhd (ESSB) had entered into a share sale and purchase agreement with Optolab managing director Ng Weng Leong and Foo Tee Kheng for the disposal.

Focus Point said the disposal is because Optolab, which trades medical products, has not been profitable since its incorporation in March 2015.