Fitters Diversified seeks buyer for palm oil business
Klayman Group Sdn Bhd is the prospective buyer, with pricing still undecided and due diligence required before a definitive agreement.
Fitters Diversified Bhd plans to dispose of Solid Orient Holdings Sdn Bhd to generate cash for its other core businesses. According to its Bursa Malaysia filing, the group has signed a term sheet with prospective buyer Klayman Group Sdn Bhd.
The company said a definitive agreement would follow due diligence by both parties. A proposed price has not yet been set. Chong Kiew Fong and Ong Ah Luan own Klayman.
Solid Orient is fully owned by Fitters Diversified and has RM57.2 million in issued share capital. Its principal activities are milling palm oil and producing crude palm oil.
Two other subsidiaries have already been sold. Fitters Sdn Bhd went to Cyclacel Pharmaceuticals Inc in September 2025, with Fitters Diversified receiving 699,158 new Cyclacel shares. Those shares represented about 19.99% of Cyclacel’s issued shares then and carried a fair value of RM18.72 million. Completion brought no cash payment, despite an earlier agreement amendment providing for additional cash.
The other transaction involved Future NRG Sdn Bhd. Fitters Diversified received RM15.2 million in cash for its entire stake, with completion taking place in March 2026.
For its third quarter ending May 31, 2026, Fitters Diversified reported RM2.46 million in pre-tax profit on revenue of RM85.29 million. Contributions from fire services, renewable and waste-to-energy operations, together with the disposal gain on Future NRG, supported the performance.
