CEKD to buy 82% stake in Worldwide Die Cutting Mould for RM6.23mil


KUALA LUMPUR: CEKD Bhd has entered right into a share buy settlement (SPA) with Tham Choon Sarn for the acquisition of an 82% stake in Worldwide Die Cutting Mould Sdn Bhd for RM6.23mil.

Worldwide is principally engaged in every kind and varieties of mould, instruments and dies and different associated actions.

In a Bursa submitting, CEKD stated the proposed acquisition will likely be funded by internally generated funds from the present enterprise operations of the corporate.

“The board of directors is of the opinion that the proposed acquisition is for a business expansion plan.

“The board expects that the proposed acquisition will contribute positively to the future earnings of the company,” CEKD stated.

Meanwhile, in a separate submitting, CEKD stated it had entered right into a share sale settlement with Yap Wan Lee And Wong Hur Shiaw for the acquisition of 480,000 extraordinary shares, or 60% stake in KIT Technology Sdn Bhd for RM720,000.

KIT Technology is principally engaged in the manufacturing of die-cut moulding and different associated moulding actions.

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