KUCHING: WTK Holdings Bhd
is venturing into the frozen food business as a new revenue stream.
The timber and plantation company has, via its wholly-owned subsidiary Kuching Plywood Bhd, acquired the entire equity interest in Sing Chew Coldstorage Sdn Bhd (SCCS) for RM20mil cash.
WTK group, which has cash and balance balances of about RM386mil as at Dec 31, 2021, paid for the acquisition from internally-generated funds. The deal was completed on June 15.
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