SHAH ALAM, Oct 11 (Bernama) — Kumpulan Perangsang Selangor Berhad (“Perangsang Selangor” or “the Group”) (KPS, Bursa: 5843; Bloomberg: KUPS:MK; Reuters: KPSB.KL) expects to enhance its profitability on an enlarged earnings base with the recent acquisition of Taspack Industrial Sdn Bhd (“Taspack” or “the Company”). Taspack is involved in an end-to-end production of offset carton boxes and in the provision of instruction manuals printing for the manufacturing sector. The acquisition provides further inroad for the Group with greater presence and stronger positioning as an integrated packaging solutions provider.
The 85% equity stake in Taspack was acquired by Perangsang Selangor’s subsidiary Century Bond Bhd (“CBB”). Via the latter’s wholly owned subsidiary, Polyplus Packages (JB) Sdn Bhd, CBB entered into a conditional Share Sale Agreement with the owners, Dato’ Lim Kian Tiong (“Dato’ Lim”), Teo Kim Yan (“Teo”) and Soo Yin Seong (“Soo”), each releasing 40%, 18% and 27% respectively of their shares in Taspack for a total sum of RM21.25 million.