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Exclusive SKP may buy Tecnic for RM200m/RM5 a share - source

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Exclusive SKP may buy Tecnic for RM200m/RM5 a share - source Empty Exclusive SKP may buy Tecnic for RM200m/RM5 a share - source

Post by Cals Fri 03 Oct 2014, 02:13

Exclusive SKP may buy Tecnic for RM200m/RM5 a share - source
Business & Markets 2014
Written by Liew Jia Teng of theedgemalaysia.com   
Thursday, 02 October 2014 15:47

KUALA LUMPUR (Oct 2): Plastic component manufacturer SKP Resources Bhd may acquire the entire business of Tecnic Group Bhd for about RM200 million or RM5 a share, sources say.

The source said the purchase price for Tecnic, which is also a plastic product company, translated into a price-to-earnings ratio (PER) of 10 times.

“SKP Resources is the acquirer. They will buy the assets and liabilities of Tecnic Group at 10 times P/E,” the source told theedgemalaysia.com today.

He also noted that the purchase price of RM200 million for Tecnic had fully valued the plastic manufacturing business of the company.

Both SKP and Tecnic are expected to make announcements on the deal to the stock exchange by this evening.

Trading of SKP and Tecnic shares has been suspended since last Tuesday (Sept 30). SKP was last traded at 69.3 sen last Monday (Sept 29) for a market capitalisation of 639 million.

Tecnic shares stood at RM5.08 for a market capitalisation of about RM205 milllion.
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