PETALING JAYA: MTAG Group Bhd
has signed a letter of intent with Khor Chun Chuan to acquire 100% equity interests in L.H. Label (M) Sdn Bhd and L.H. Labelprint Sdn Bhd for RM13.8mil in cash from the latter.
In a filing with Bursa Malaysia, MTAG noted the proposed acquisition, signed on Oct 8, will be undertaken on an “as is”, “lock, stock and barrel” and en-bloc basis, funded entirely through internally generated funds.
It added the move will expand its operations and strengthen its presence in the label and printing industry.
The target companies manufacture and supply labels and related printing products.
This will allow MTAG to broaden its product offerings and customer base while leveraging their existing operations, customer relationships and industry experience.
