KUALA LUMPUR: CEKD Bhd has entered into a share purchase agreement (SPA) with Tham Choon Sarn for the acquisition of an 82% stake in Worldwide Die Cutting Mould Sdn Bhd for RM6.23mil.
Worldwide is principally engaged in all kinds and types of mould, tools and dies and other related activities.
In a Bursa filing, CEKD said the proposed acquisition will be funded by internally generated funds from the current business operations of the company.
“The board of directors is of the opinion that the proposed acquisition is for a business expansion plan.
“The board expects that the proposed acquisition will contribute positively to the future earnings of the company,” CEKD said.
Meanwhile, in a separate filing, CEKD said it had entered into a share sale agreement with Yap Wan Lee And Wong Hur Shiaw for the acquisition of 480,000 ordinary shares, or 60% stake in KIT Technology Sdn Bhd for RM720,000.
KIT Technology is principally engaged in the manufacturing of die-cut moulding and other related moulding activities.