TOKYO, Mar 25 (Pulse News Wire) – IPS, Inc. (439A.T) announced today that its board of directors decided to divest its wholly-owned subsidiary, ACTBE SOUTHEAST ASIA SDN.BHD., to Office Navigator Co., Ltd.
The transaction is expected to take place on March 31, 2026. As a result, ACTBE SOUTHEAST ASIA will be delisted from IPS's consolidated subsidiaries. Established in April 2023, ACTBE SOUTHEAST ASIA was set up to support digital transformation initiatives in ASEAN countries. However, due to insufficient synergy outcomes, IPS concluded that selling the subsidiary would allow for more focused resource allocation and strengthen the group’s operational foundation and corporate value.
Key details of the divested entity include: - Headquarters: WeWork EQ Level 18, Jalan Sultan Ismail, Kuala Lumpur - Capital: RM¥500 thousand - Business scope: System development support and office search services in Malaysia - Financial highlights (latest three fiscal years ending April): - Revenue: RM¥15 thousand, RM0, RM¥8 thousand - Operating profit: RM¥15 thousand, RM0, RM¥8 thousand - Net income: RM¥53 thousand, RM¥270 thousand, RM¥403 thousand The divestiture involves transferring 500,000 shares, reducing IPS's holding to zero. Further specifics such as the transaction price remain undisclosed at the request of the buyer. IPS stated that the impact on its consolidated performance for the fiscal year ending April 2026 is currently being assessed. Any necessary adjustments to earnings forecasts will be communicated promptly.
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