On the 6th of October 2017, the board of directors for Watta Holding Berhad (WHB) has announced the proposed cessation of trading and distribution of automotive business batteries in both of its wholly owned subsidiaries. These subsidiaries are Watta Battery Industries Sdn. Bhd. (“WBISB”) and Syarikat Perniagaan Leko Sdn. Bhd. (“SPLSB”).
Watta Holding Berhad Announces Trading Cessation
The decision follows the group´s reorganisation strategy to discontinue loss-making business ventures in order to reduce operating costs and overheads. The group expect that its trading and distribution of automotive business batteries will have completely ceased trading by December the 31st 2017.