From left: Ho Wah Genting Bhd group executive chairman Datuk Aaron Lim Ooi Hong, Advance Apotheke Sdn Bhd director Leong Oi Heng, Ho Wah Genting executive director Bernard Lim Wee Kiat and Advance Apotheke director Lee Mun Joe.
KUALA LUMPUR: Ho Wah Genting Bhd
’s wholly owned subsidiary, HWGB Capital Sdn Bhd has proposed to acquire a 55% stake in Advance Apotheke Sdn Bhd (Apotheke).
Apotheke operates in the fragrances, beauty skincare, and related products sector. The issued share capital of Apotheke is RM500,000 comprising 500,000 ordinary shares.
In a filing with Bursa Malaysia, Ho Wah said HWGB has entered into a memorandum of understanding with Leong Oi Heng for the proposed acquisition.
Details of the acquisition price will be disclosed upon finalisation of the definitive agreement, it said.
"This partnership represents a strategic alignment and an excellent opportunity to expand HWGB's footprint in the wellness sector. We believe that the combined expertise of HWGB and Apotheke will provide us with a strong foundation to grow and make a significant impact in the wellness industry, focusing on the organic skincare market,” HWGB said in a separate statement.
