KUALA LUMPUR: Kuching Plywood Bhd (KPB) plans to acquire 100 per cent equity interest in Sing Chew Coldstorage Sdn Bhd (SCCS) for a cash consideration of RM20 million.
In a filing with Bursa Malaysia today, WTK Holdings Bhd
, a wholly-owned unit of KPB, said KPB has entered into a share sale agreement with TMC Importer & Exporter Sdn Bhd (TMC) for the proposed acquisition.
TMC was wound up by the High Court in Sibu, Sarawak on August 30, 2018.
KPB had expressed interest to acquire shares in SCCS after the liquidator of TMC put up an invitation for expression of interest to acquire the shares in SCCS publicly on March 19, 2022, said WTK.
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