Singapore-headquartered Berger International has decided to sell its entire stake in loss making Malaysia-based subsidiary Berger International Sdn Bhd to Royalton Holdings for about 616,500 Singapore dollars.

Recently, the company has signed a conditional share-purchase pact with Royalton Holdings Sdn Bhd to sell 2.4 crore shares of Berger International Sdn Bhd for about 616,500 Singapore dollars.     

The proceeds from the disposal are expected to be utilized for the company's working capital purposes and to fund the operations of the Berger Group.

However, the proposal is subjected to necessary shareholders approval.

Berger International Ltd, Singapore is a subsidiary of Asian Paints (International) Ltd and involves in manufacturing, selling and distribution of paints and related products.