Tien Wah to buy Indonesian cigarette packaging manufacturer for RM96.9m

PETALING JAYA: Tien Wah Press Holdings Bhd has been awarded a tender to acquire the entire stake in cigarette packaging manufacturer, PT Bintang Pesona Jagat, for RM96.9 million (IDR304 billion).
PT Bintang Pesona Jagat is a subsidiary of Bentoel Group. In a filing with Bursa Malaysia, Tien Wah said the acquisition comes with a six-year contract for the manufacturing and supply of packaging materials for Bentoel Group. The deal shall be conditional upon the acceptance of the terms, conditions, and procedures determined by Bentoel Group. – Bernama