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PETALING JAYA (June 29): Ajiya Bhd has outlined how it intends to use the proceeds from its disposal of shares in Tanco Holdings Bhd, saying the bulk will be redeployed into other quoted investments, with a small allocation for administrative expenses.
In a follow-up filing to its June 25, 2026 announcement on the disposal — classified under “Transactions (Chapter 10 of Listing Requirements): Non Related Party Transactions” — Ajiya said its board is not yet able to determine the exact breakdown or utilisation timeline for the proceeds, as this will depend on the company’s actual requirements at the relevant time.
However, barring unforeseen circumstances, the group currently plans to utilise the proceeds within six months as follows:
a) 98% for investment in quoted shares
b) 2% for administrative expenses
The filing does not specify any allocation toward debt repayment, dividends or capital expenditure, and does not name specific counters, sectors or strategies for the reinvestment. It simply clarifies that, under present plans, nearly all of the cash unlocked from the Tanco disposal is earmarked for further equity investments in the market, with 2% allocated to overheads.
Ajiya’s earlier filing on June 25 detailed the disposal mechanics and gain realised from selling its Tanco stake; this latest announcement is confined to the proposed utilisation categories and indicative timeframe, with the company noting that the actual usage will be adjusted according to needs when the funds are deployed.
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