Asian Paints International Private Limited, Singapore (APIPL), wholly owned subsidiary company of Asian Paints Ltd, has today, divested its entire stake in Berger Paints Singapore Pte Limited (BPS), wholly owned subsidiary of APIPL to Omega Property Investments Pty Ltd, Australia.
BPS had a limited presence in the Singapore coatings market and was not material to the overall International operations of AP group. BPL had revenue of SGD 19.77 mn for the financial year ended as on March 31, 2019. The loss of the financial year ended March 31, 2019 was SGD 1.55 mn. The networth was at SGD 2.89 mn as on March 31, 2019.
The consideration received from the sale is SGD 4 mn.
Shares of ASIAN PAINTS LTD. was last trading in BSE at Rs.1518.45 as compared to the previous close of Rs. 1547.95. The total number of shares traded during the day was 38289 in over 2782 trades.
The stock hit an intraday high of Rs. 1525.95 and intraday low of 1501.25. The net turnover during the day was Rs. 57953913.