According to Avarga, the acquisition is to further the company’s investment business, which “focuses on identifying new investment opportunities locally and overseas that has the potential to increase revenue streams and produce good returns on investments”.
Avarga, on March 1, has acquired 78.1 million shares representing 10% of the total issued and paid-up share capital of Bursa-listed Straits Inter Logistics Berhad at 17.5 sen (5.75 cents) from a third party by way of a married deal.
The total consideration of the acquisition is RM13.7 million or $4.5 million.
