Kanger buys 51% stake in building materials supplier Sung Master

KUALA LUMPUR (Bernama) -- Kanger International Bhd has proposed to acquire 51 per cent stake or 1.02 million shares of Sung Master Holdings Sdn Bhd for RM94.79 million.

In a filing with Bursa Malaysia today, Kanger said the company also proposed new subscription shares of 769.51 million, representing 30 per cent of the total issued shares, at the subscription price of six sen by Kuah Choon Ching.