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Adventa Berhad Acquires PTM Progress Trading & Marketing Sdn. Bhd.

Monday, 31 Dec 2012 05:25am EST 

Adventa Berhad announced that the Company had on 31 December 2012 entered into an agreement to acquire 500,000 ordinary shares of MYR 1 each fully paid up in the capital of PTM Progress Trading & Marketing Sdn. Bhd. (PTM) from Mr. Chew Ah Keang and Madam Ng Chai Hwah at a total cash consideration of MYR 7,500,000 only, less the existing bank loan and other liabilities on completion date, subject to due diligence audit to be conducted on PTM. Following the acquisition, PTM became a 100% wholly-owned subsidiary of the Company. PTM is a private limited company incorporated in Malaysia and has an authorised capital of MYR 500,000 comprising 500,000 ordinary shares of MYR 1.00 each of which 500,000 have been issued and are fully paid-up. PTM is an investment holding company and it is the registered and beneficial owner of an industrial land and buildings erected on the land in Subang. 

Company Quote

-0.01 -0.94%
18 Jul 2014