Luster signs MoU with Citi-Champ of Hong Kong

PETALING JAYA: Plastics manufacturer Luster Industries Bhd has entered into a memorandum of understanding (MoU) with Citi-Champ International Ltd in relation to the proposed disposal by Citi-Champ and acquisition by Luster of a certain percentage of Citi-Champ’s shares in New Harvest Asia Investment Ltd for a certain purchase consideration to be determined later.

The company in question, New Harvest, is in the process of acquiring SS Ventures Ltd, a start-up focused on providing taxi hailing technology services.