PETALING JAYA: CCK Consolidated Holdings Bhd
’s proposed acquisition of a prawn processing business in Indonesia will bring business synergies and contribute to profitability.
However, CGS-CIMB Research is “neutral” on the deal due to concerns over the volatile nature of the business and it being a related party transaction (RPT).
Last week, CCK proposed to buy PT Bonanza Pratama Abadi, an Indonesian company involved in shrimp processing for US$8mil or RM33.8mil.
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