KUALA LUMPUR: Shares of Muda Holdings Bhd rose marginally in early trade Monday on acquisition of stationery distribution firm in Singapore.
The industrial paper and paper packaging products manufacturer gained one sen, or 0.59% to RM1.71.
Muda Holdings is acquiring a stationery distribution company in Singapore for S$1.42mil (RM4.26mil) to strengthen its market position there.
The company said its 70%-owned subsidiary Intrapac (Singapore) Pte Ltd acquired Wenfang Pte Ltd from Kang Yiang Li and Kuah Lian Lee.
Wenfang is principally engaged in importing and distributing stationery and holds a number of agency products in Singapore under the name of Deli, Comix, Hopax, Kapamax and TiTi.
Did you find this article insightful?