KUALA LUMPUR: Bioalpha Holdings Bhd
, through unit Bioalpha International Sdn Bhd, has acquired a 60% stake in PT Herbal Malindo Makmur (PT HMM) in Indonesia.
The health supplement maker, which also has a pharmacy store franchise in the Klang Valley under the brand Constant, did not give the purchase price in its announcement to Bursa Malaysia. However, it noted that PT HMM, whose intended principal activity is manufacturing health supplement products, has a paid-up capital of US$250,000 (RM1mil).
The balance 60% is owned by Mutia Restina, of which no information is given on its activities or shareholders.
The legal representative of PT HMM is Hon Tian Kok @ William, who is the managing director and chief executive officer of Bioalpha.
No rationale for the purchase was given in the announcement.
The Government is a substantial shareholder in Bioalpha through Perbadanan Nasional Bhd (PNS) (10.3%) and Malaysian Technology Development Corp Sdn Bhd (16.08%). Since March, PNS has disposed of 56.58 million shares in Bioalpha, reducing its stake from 15.07% to 10.31% (based on Bursa filings).
Bioalpha shares shed half a sen to close at 35.5 sen, with 6.11 million shares traded.
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