O&C Resources Bhd has acquired a 51% stake in Masbe Coffee Sdn Bhd (MCSB) for RM5 million from Makok Intl Sdn Bhd. The rubber and baby products producer said in its exchange filing last Friday that MCSB in principally engaged in the business of real property and housing development and intends to develop a piece of freehold land in Kuala Lumpur. The acquisition is in line with O&C Resources’ strategy to grow and diversify its business operations to sustain its profit as well as to balance its income stream. The company viewed the acquisition as an opportunity to strengthen its financial earnings via property development as it sees a robust growth in the industry due to investment preference by locals and foreigners.
Published by The Malaysian Reserve