In addition, the retained earnings of iFocus for the year ended Dec 31 2024 will be paid to Ng and Kuo as dividends.
According to Natural Cool in its Jan 11 announcement, the net asset value represented by the 49% stake in iFocus was around $1.12 million as at June 30 2024.
Besides this investment in iFocus, Natural Cool provides air-conditioning maintenance and installation business and is also in F&B.
Natural Cool first invested in iFocus back in 2022, paying $3.06 million for a 51% stake.
See also: Cosmosteel’s CEO Ong resigns after 3HA Capital offer declared unconditional
In its 1HFY2024 ended June 30, Natural Cool reported a 1.6% y-o-y dip in revenue to $67.8 million. However, earnings in the same period dropped by 27.7% y-o-y to $501,000, because of higher labour and finance costs.
Natural Cool Holdings shares last traded at 3.4 cents. It is up 13.33% in the past 12 months, valuing the company at around $7.9 million.
