CCIB Unit to buy Alpadis Trust (Labuan) for US$750,000

KUALA LUMPUR: CC International Bhd (CCIB), via its indirect wholly-owned subsidiary, Indah Secretarial (Penang) Sdn Bhd (ISPG), has entered into a share purchase agreement to acquire the entire issued shares of Alpadis Trust (Labuan) Ltd for US$750,000 (US$1=RM4.19).

CCIB, an integrated corporate solutions company, stated in a Bursa Malaysia filing that the agreement was signed with Alpadis Group Holding AG.

“Given that Alpadis is an established business and has its clientele base, the proposed acquisition would allow the group to quickly acquire its existing clientele, as well as leverage its business network to cross-sell other professional services.

“In addition, given that Alpadis has been profitable over the past two financial years, future profits to be generated will contribute positively to the CCIB group moving forward,” CCIB said.

The purchase price will be fully funded through the unutilised proceeds from the private placement exercise completed on July 26, 2023.

“The proposed acquisition is estimated to be completed by the fourth quarter of 2025. The proposed acquisition is subject to approval from the Labuan Financial Services Authority for the transfer of shares from the vendor.

“However, it is not subject to the approval of CCIB’s shareholders and any other relevant government authorities,” CCIB said. – Bernama