KUALA LUMPUR: Muda Holdings Bhd
is buying a corrugated cartons and boards factory near Ipoh, Perak from Yee Lee Corp Bhd for RM22mil cash.
The company, in a filing with Bursa Malaysia today, said the purchase of South East Asia Paper Products Sdn Bhd is to further expand its corrugated carton business.
Yee Lee, an edible oil packaging firm, was delisted from Bursa Malaysia in July last year after a group led by the company's founder Datuk Lim Ah Heng @ Lim Kok Cheong obtained almost full control of the company.
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