Sedania seeks shareholders go-ahead for diversification

PETALING JAYA: Sedania Innovator Bhd told Bursa Malaysia yesterday it will seek approval from shareholders to diversify its business into the provision of financial technology services.

It said contribution from the purchase of Sedania As Salam Capital Sdn Bhd in February for RM12 million, may potentially be 25% or more of the net profits of the group and will result in the diversion of more than 25% of the group’s net assets.

Its board of directors will therefore seek the approval of its shareholders for the proposed diversification into the provision of financial technology services.