KUALA LUMPUR: Eco World Development Group Bhd says its wholly-owned Hasrat Budi Sdn Bhd (HBSB) will no longer hold any shares in MYSJ Sdn Bhd.
Eco World, in a Bursa Malaysia filing today, said the cheque for the option price between Entomo Malaysia Sdn Bhd and the latter's founder and group chief executive officer Raveenderen Ramamoothie had been cleared.
"Accordingly, the shares in MYSJ held by HBSB, the company's wholly-owned subsidiary, will be retransferred, whereupon HBSB will no longer hold any shares in MYSJ.
"HBSB's representatives will also resign as directors of MYSJ," it said.
Entomo Malaysia is the operator of MySejahtera application.
On July 28, the company's filing to Bursa noted that a consent judgment was entered for Entomo and Raveenderan to buy all of HBSB's shares in MYSJ.
The sum stated was RM24 million plus premium at the rate of 10 per cent per annum calculated from Aug 27, 2021 until the date of full payment.
The company then updated on Oct 28 that HBSB had received a cheque which was post-dated to Nov 2 for the option price of RM26.8 million.