KPS gets nod to buy Toyoplus

  • Business
  • Thursday, 25 Jul 2019

Companies that provide short-term consumer loans at high interest rates are on the increase in countries like Indonesia and the Philippines as many people struggle to get advances through traditional channels such as banks.

KUALA LUMPUR: Kumpulan Perangsang Selangor Bhd (KPS) has received shareholders approval to acquire 100% stake in Toyoplas Manufacturing (M) Sdn Bhd and its subsidiaries for RM311.25mil.

KPS said the acquisition was via its subsidiary, Perangsang Dinamik Sdn Bhd.

The valuation of the acquisition’s purchase price was within the industry benchmark, in terms of enterprise value-to-earnings before interest, tax, depreciation and amortisation and price-earnings ratios of 5.23 times and 8.66 times, respectively. — Bernama

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