KUALA LUMPUR: Mega First Corporation Bhd
(MFCB) is set to acquire 25.79 million ordinary shares in Stenta Films (Malaysia) Sdn Bhd (SFM), representing a 12.50 per cent equity interest in the latter, for RM33.10 million.
In a filing with Bursa Malaysia, the company said the acquisition was made pursuant to a share purchase agreement (SPA) dated Jan 21, 2026, inked between MFCB as purchaser and PT Argha Karya Prima Industry Tbk, Rentak Rimbun Sdn Bhd, Wong Kok Hwa and Ngoei Boon Liong (collectively referred to as the vendors).
"The additional investment is expected to be completed within 30 days from the date of SPA, whereupon MFCB’s effective interest in SFM will increase from 75.0 per cent to 87.5 per cent.
"In conjunction with the execution of the SPA, the board wishes to announce that all parties in the put option agreement (POA) mutually agreed to terminate the POA upon completion of the additional investment, before the expiry of the POA on July 28, 2026,” it said.
MFCB added that the additional investment and termination of POA will not have any effect on the share capital of MFCB and the substantial shareholders’ shareholding in MFCB.
It added that it will also have an insignificant impact on the net assets per share of MFCB, its gearing, as well as MFCB’s earnings and earnings per share.
"The additional investment allows MFCB to secure stronger financial and strategic control over a profitable and strategically important business line, while positioning for growth in the packaging and industrial market,” it said. - Bernama
