This fire protection business, held under an entity called KA Group, was acquired from Soh Yong Poon and his daughter Soh Ying Sin back in 2014.
Since then, they've continued with the management of this business.
According to Intraco , the buyers include Soh Ying Sin and other related parties that are also existing shareholders of itself.
Intraco explains that the divestment is in line with its move to shift its business model towards one that is "more scalable and aligns with the enduring technological trends in today’s world."
See also: Intraco to exit SGX Watch-list on April 7
Following the sale, Intraco can focus its resources on its trading, distribution and supply chain solutions businesses in Singapore and the region.
The company also plans to expand its digital assets and tokenization advisory services, regulated domestic and cross -border money transfers as well as money-changing services.
Intraco shares last traded at 25 cents, down 7.41% year to date.
