KUALA LUMPUR, Jan 19 — Kuala Lumpur Kepong Bhd (KLK) said all its local upstream operations were certified as compliant with Malaysian Sustainable Palm Oil (MSPO) standards at the end of December 2017. The certification was received a year…
KUCHING: With crude palm oil (CPO) prices pegged to remain stable at RM2,400 per metric tonne (MT) in the first quarter of 2018, on the back of an anticipated robust demand and stocks levels picking up from February 2018 onwards, analysts see many signs for a recovery for the sector. Kenanga Investment Bank Bhd (Kenanga […]
KUCHING: Kuala Lumpur Kepong Bhd (KLK) has announced its intention to acquire Elementis Specialties Nether B.V (ESN), a surfactant manufacturer in the Netherlands, for a total consideration of 39 million euros or RM187.2 million. The group made the announcement on Tuesday in a Bursa filing where they stated that their rationale for the acquisition is […]
US Market : U.S. stocks rose on Tuesday amid growing optimism that Republican lawmakers would be able to revamp the corporate tax system. Wall Street also looked to the Federal Reserve as its two-day policy meeting kicked off. Europe Market : European stocks closed higher Tuesday, as investors monitored upcoming policy meetings from the U.S. Federal Reserve and the European Central Bank (ECB). Precious Metal Gold : Gold prices retreated to a near five-month low on Tuesday as investors braced for a widely expected U.S. interest rate increase this weekRead More
KUALA LUMPUR (Dec 12): Based on corporate announcements and news flow today, stocks in focus on Wednesday (Dec 13) may include: Rhone Ma Holdings Bhd,…
PETALING JAYA: Kuala Lumpur Kepong Bhd (KLK) proposes to acquire Elementis Special Ties Netherlands B.V. (ESN) for an enterprise value of €39 million (RM187.2 million).
KLK told Bursa Malaysia that its wholly owned subsidiary Kolb Distribution AG had on December 11 entered into an agreement to acquire from Elementis B.V. its entire interest in ESN comprising 3,404 ordinary shares of nominal value €1,000 each, together with its working capital, assets and business associated with its surfactant chemicals business at ESN's 1.62 ha site at Delden, the Netherlands.
ESN manufactures surfactant and a range of products sold by its specialty products division.
KLK said the Delden site will expand the existing Kolb business portfolio in terms of product range and market coverage.
“The use of the Delden site as another hub for KLK's market penetration strategy will further accelerate growth in the group's downstream chemical specialties business in Europe.”
KLK added that ESN comes with a large established customer base and is expected to generate benefits to the group's chemical business.
“Upon completion of the proposed acquisition, the Delden site will continue to supply a range of specialty chemicals to Elementis Specialties Inc under a long-term supply agreement.”
KLK noted that the proposed acquisition, which is expected to be completed in the first half of 2018, will be funded by a combination of the group's existing cash reserves and bank borrowings.
At 12.30pm, KLK shares were unchanged at RM24.38 on some 165,600 shares done.
KUALA LUMPUR, Nov 22 — Kuala Lumpur Kepong Bhd’s (KL Kepong) pre-tax profit for the financial year ended Sept 30, 2017 fell 15.3 per cent to RM1.45 billion from RM1.71 billion in the same period last year. In a filing to Bursa Malaysia…