QL Resources plans to expand livestock farming division
Published on: Friday, October 03, 2014
KUALA LUMPUR: QL Resources Bhd, a diversified resource and agricultural-based group, is exploring opportunities to expand its integrated livestock farming division organically and inorganically. Inorganic growth referred to a method of expanding businesses through mergers, acquisitions and takeovers. QL Resources Group Corporate Development Director Chia Lik Khai said the group would continue to grow its egg business and increase its production capacity from the current 3.2 million eggs per day.
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Chia declined to elaborate on the progress of a voluntarily takeover offer to Lay Hong Bhd (LHB) by proposing to acquire all the remaining 73.19 per cent stakes it does not owned in LHB for a cash consideration of RM3.50 per share. "We are going through the process and we will issue a separate statement on the progress," he told reporters after the launch of the 'Good Heart Campaign' in collaboration with the National Heart Institute (IJN), here Thursday. Chia said the group was aware of the public and media interest on the issue.QL Resources already owned 13.417 million shares, representing 26.81 per cent stake in Lay Hong as at Sept 22, 2014.
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