KUALA LUMPUR: PPB Group Bhd
has emerged as a substantial shareholder in Techbond Group Bhd following the acquisition of a 15%-stake from Sonicbond Sdn Bhd.
Techbond is a manufacturer and supplier of industrial adhesives while PPB Group is a diversified conglomerate which is principally engaged in investment holding, food production, film exhibition and distribution, and property.
“We are pleased to welcome PPB Group as Techbond’s new substantial shareholder. This represents a strong vote of confidence in our strategic direction and growth potential. We believe this partnership will create significant value for all stakeholders as we continue to execute on our growth strategies,” Techbond managing director Lee Seng Thye said in a statement.
“Looking ahead, the group’s outlook remains bright, underpinned by healthy order flow and demand recovery from our customers along with positive progress from our upstream polymerization plant.
“The group aims to close FY24 on a high note and carry this momentum into FY25,” Le added.
Techbond closed flat at 43.5 sen with 817,200 shares traded today. The counter has risen 6.10% so far this year.
