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Huat Lai to buy stake in TPC Plus
by hlk Mon 03 Oct 2011, 22:48
Huat Lai Resources Bhd is proposing to acquire 33.65 per cent of a poultry company, TPC Plus Bhd, for RM8.075 million from London Biscuit Bhd via internally generated funds.
TPC's primary business is the production of premier and table eggs for industrial, commercial and consumer use, said Huat Lai.
The acquisition of TPC will enables the group, which itself is a big egg producer in the country, to enlarge its customer base and remain more competitive, it said in a filing to Bursa Malaysia today.
"The investment in TPC will not have any effect on the share capital of Huat Lai and the shareholdings of its substantial shareholders as the acquisition amount will be satisfied entirely by cash," it said. -- Bernama
TPC's primary business is the production of premier and table eggs for industrial, commercial and consumer use, said Huat Lai.
The acquisition of TPC will enables the group, which itself is a big egg producer in the country, to enlarge its customer base and remain more competitive, it said in a filing to Bursa Malaysia today.
"The investment in TPC will not have any effect on the share capital of Huat Lai and the shareholdings of its substantial shareholders as the acquisition amount will be satisfied entirely by cash," it said. -- Bernama
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