Google:CEKD to buy 82% stake in Worldwide Die Cutting Mould for RM6.23mil

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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.

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“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.