Consolidate ink and paint business

In order to further consolidate the special inks and paints business, Octagon (7109, Main Board Industrial Products Unit) acquired two related companies, namely Advanced Coatings & Surface Technologies, for more than RM19 million. Limited and Premierpath Pte Ltd.

With the acquisition of a 30% stake in advanced paint and surface technology or equivalent to 75,000 new shares for RM75,000, the Octagon Group will be able to successfully enter the field of equipment, marine and other special-purpose paints.

In addition, the company also used Premier RM1,900 to acquire Premierpathâ€™s 1 million ordinary shares. As a result, the company will be able to consolidate its market share, provide diversified products and comply with economic effects.

Ms. Maznan Ali, the managing director and chief executive of the Octagon Group, said that the above two acquisition plans will be able to bring significant benefits to the company this year and consolidate the company's core business.

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