Muda Holdings buys Singapore stationery distributor Wenfang for USD 1.11m (SGD 1.42m)
Malaysian paper and packaging manufacturer Muda Holdings has acquired Singapore-based stationery distributor Wenfang Pte Ltd for S$1.42m (RM4.26m), via its 70%-owned subsidiary Intrapac (Singapore). The deal adds Wenfang's agency distribution rights for brands including Deli, Comix, Hopax, Kapamax and TiTi to strengthen Muda's position in the Singapore stationery market.
Why this mattersThe deal extends Muda from paper and packaging manufacturing into Singapore stationery distribution, adding five agency brands for USD 1.11m.
- Deal value S$1.42m (USD 1.11m), equivalent to RM4.26m
- Buyer is Intrapac (Singapore) Pte Ltd, 70%-owned subsidiary of Muda Holdings
- Sellers were Kang Yiang Li and Kuah Lian Lee
- Wenfang distributes stationery under agency brands Deli, Comix, Hopax, Kapamax and TiTi in Singapore
- Muda Holdings shares rose 1.8% to RM1.70, giving a market capitalisation of RM518.59m
- Announcement made in a filing with Bursa Malaysia
Sources
theedgemalaysia.com