Malaysia's Bonia unit acquires Vietnam company

KUALA LUMPUR: CRG Inc Sdn Bhd, a subsidiary of Bonia Corp Bhd, has acquired CRG Viet Nam Co Ltd (CRGV) from FHG Co Ltd and Le Quang Dung Hanh.

In a filing with Bursa yesterday, Bonia said it had received the enterprise registration certificate of “limited liability company with more than one member”, from Ho Chi Minh City’s Department of Planning and Investment.

The certificate allows CRGV to proceed with the next course of action, including, own properties as allowed under the local regulations, lease and sub-lease offices, warehouses and/or retail outlets.

“With the acquisition, CRGV has become a 99% owned subsidiary of CRG International, with the remaining 1% interest held by FHG,” it added.

FHG is a local Vietnamese company distributing goods under the brand name Carlo Rino in Vietnam.

Bonia said the acquisition was funded by internal resources and was not expected to have any material effect on the earnings or net assets of the company for the financial year ending June 30, 2015. — Bernama