Handal Engineering Sdn. Bhd. entered into a share sale agreement to acquire 61% stake in Borneo Seaoffshore Engineering Sdn Bhd from Handal Energy Berhad (KLSE:HANDAL) for MYR 6.1 million on March 3, 2023.

Handal Engineering will acquire 1,195,600 ordinary shares in BSOE. The Board expects the Proposed Disposal to be completed by the [first quarter] of 2023.