Wednesday January 30, 2013
Muda Packaging acquiring KF Paper
KUALA LUMPUR: Muda Packaging Industries Sdn Bhd will acquire two million ordinary shares of RM1 each in KF Paper Products (Melaka) Sdn Bhd from Hong Hwai Holdings Sdn Bhd and three individuals for RM6.75mil.
In a filing with Bursa Malaysia, Muda Holdings said the shares represented the entire issued and paid-up capital of KF Paper.
Muda Packaging is a wholly-owned subsidiary of Muda Holdings Bhd.
The acquisition, subject to approval from relevant authorities, would enable the Muda group to expand further into the corrugated carton industry and to see an increase in the consumption of the group’s industrial grade paper. — Bernama