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Malaysian firm buys 10 percent of China's World Granary Holding

The Star/Asia News Network
January 30, 2013, 12:05 am TWN

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KUALA LUMPUR -- KBB Resources BHD, one of the big players in Malaysia's vermicelli market, has inked a proposal to acquire 10 percent of China-based World Granary Holding Ltd. (Tianxia) for 21 million ringgit (US$6.83 million) via a share swap.

From a share sale agreement signed yesterday, Tianxia will receive 35 million new KBB shares of 60 sen per share, equivalent to 22.5 percent of its total shares. To date, the company has issued up to 120 million shares.

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