Hong Seng looking to buy 51% stake in Pow Pocket

From left: Pow Pocket Sdn Bhd senior advisor Kuhan Arunasalam, managing director Russell Walter Boyd with Hong Seng Consolidated Bhd group managing director Dato Seri Teoh Hai Hin, executive director Lester Chin and chairman Datuk Seri Dr Chen Chaw Min at the signing ceremony and national launch of Immunise in Kuala Lumpur.

PETALING JAYA: Hong Seng Consolidated Bhd has entered into a heads of agreement (HoA) to buy a 51% stake in Pow Pocket Sdn Bhd for RM200mil.

The group, formerly known as MSCM Holdings Bhd, told Bursa Malaysia its wholly owned subsidiary HS Bio Sdn Bhd had entered into a HoA yesterday with Pow Pocket managing director Russell Walter Boyd regarding Pow Pocket, a financial services and health technologies-related company.