04.03.15
Multi-Color has expressed interest in Super Enterprise Holdings Bhd, which would allow the company to expand into Southeast Asia. Super Enterprise, a self-adhesive label manufacturer in Malaysia, has received a “non-binding indication of interest” from Multi-Color to explore a potential transaction involving the shares of Super Enterprise.
“MCC requires, among others, a due diligence to be satisfactorily completed before it can proceed to the stage of making a definitive offer involving the shares of Super Enterprise, if applicable. The board, after deliberation, has agreed for MCC to undertake a due diligence exercise,” Super Enterprise said in a statement to Bursa Malaysia.
Super Enterprise said MCC had indicated the scope of the due diligence would include, among others, the operations of Super Enterprise and its subsidiaries, customers, suppliers and financials of the group.
Super Enterprise, however, cautioned that the interest was exploratory. “There is no assurance that a definite offer from MCC will materialize. The board notes the recent increase in its share price and wishes to remind shareholders to trade with caution,” the statement said.
For the nine-month period that ended on December 31, 2014, Super Enterprise boosted its net profit by 53% to RM6.54mil on turnover of RM104.1mil.
As of March 31, 2015, MCC has a market capitalization of $1.5 billion.
“MCC requires, among others, a due diligence to be satisfactorily completed before it can proceed to the stage of making a definitive offer involving the shares of Super Enterprise, if applicable. The board, after deliberation, has agreed for MCC to undertake a due diligence exercise,” Super Enterprise said in a statement to Bursa Malaysia.
Super Enterprise said MCC had indicated the scope of the due diligence would include, among others, the operations of Super Enterprise and its subsidiaries, customers, suppliers and financials of the group.
Super Enterprise, however, cautioned that the interest was exploratory. “There is no assurance that a definite offer from MCC will materialize. The board notes the recent increase in its share price and wishes to remind shareholders to trade with caution,” the statement said.
For the nine-month period that ended on December 31, 2014, Super Enterprise boosted its net profit by 53% to RM6.54mil on turnover of RM104.1mil.
As of March 31, 2015, MCC has a market capitalization of $1.5 billion.