Malaysian firm acquires fishmeal producer
Malaysian firm QL Resources announced it entered into an agreement to acquire Kuala Kedah Fish Meal Sendirian Berhad (KKFM) for MYR 2.7 million (USD 824,302/EUR 598,063), sold by Kuala Kedah Fish Industry.
The takeover will be financed via “internally generated funds.”
Upon completion of the acquisition, KKFM will become the wholly-owned subsidiary of QL Fishery Sdn. Bhd. The acquisition will have no material impact on QL’s earnings for the year ending 31 March 2014.
Fishmeal producer KKFM is strategically located in a key fish landing center in Malaysia’s northern peninsular, QL Resources said.