PETALING JAYA: Komarkcorp Bhd is the latest addition to Fintec Global Bhd’s investment portfolio following the purchase of a 19.82% stake in Komarkcorp for RM16.4 million.
Fintec said in a filing with the stock exchange that its wholly owned subsidiary Asiabio Capital Sdn Bhd had on Sept 17 entered into a sale and purchase of shares agreement with Koh Hong Muan @ Koh Gak Siong and Aimas Enterprise Sdn Bhd for the purchase.
The proposed acquisition will be funded entirely from its internally generated funds.
Fintec said the proposed acquisition is in line with its business objective of acquiring strategic stakes in companies with potential for future growth. Currently, it has strategic investments in renewable energy, engineering, food and beverage, financial and information technology, oil and gas as well as bioenergy, amongst others.
“The proposed acquisition is intended to allow Fintec to capitalise on the market’s current high demand for security prints/codes like Radio Frequency Identification Devices and Quick Response Code (QR Codes).”
Komarkcorp has invested heavily in machineries that have the capability to develop and produce new products such as digital personalised labels, variable data prints and security prints.
Fintec noted that it may be able to extract synergistic benefits potentially through collaboration and sharing of technical expertise between Komarkcorp and DGB Asia Bhd, in which Fintech had invested in.
“Through the acquisition of Komarkcorp, Fintec has the potential to be part of a full-fledged supply chain system by providing security prints to manufacturer, distributors and retailers of various industries.”
Moreover, Fintec said the proposed acquisition may also complement its existing investment in NetX Holdings Bhd, a company involved in, amongst others, the provision of electronic payment solutions and development of a lifestyle mobile application.
