PETALING JAYA: Signature International Bhd
has entered into a conditional share sale agreement (SSA) with Foo Khai Shin to buy a 45% stake in Zig Zag Builders (M) Sdn Bhd for RM13.1mil.
In a filing with Bursa Malaysia, Signature, a kitchen cabinet maker, said the purchase of to 450,000 shares in Zig Zag will be funded with internal funds.
Zig Zag is principally involved in the business of interior design, renovation, furnishing, installation, and maintenance and construction works. The company is owned by Foo.
Signature added the stake purchase is in line with its objective of acquiring strategic stakes in companies with potential for future growth.
The proposed deal will also allow it to have an indirect access to the on-going and future projects of Zig Zag and diversifies its customer base to include the customers of Zig Zag which include predominantly semiconductors-based customers.
