Jack Chia to buy RI's firm

Jack Chia to buy RI's firm

SINGAPORE (Reuter): Singapore's Jack Chia-MPH Ltd said yesterday its subsidiary, Shurland Ltd, and other parties, had agreed to buy confectioner P.T. Hudson Indonesia Ltd for US$5.7 million.

It said in a statement the other parties included Jack Chia Holdings (Hong Kong) Ltd and Drug Houses of Australia (Overseas) Ltd.

P.T. Hudson owns a manufacturing facility in Indonesia and its acquisition reflected JC-MPH's strategy of expanding its core confectionery business in Indonesia and the region, the statement said.

it said the purchase is conditional upon the approval of relevant Indonesian authorities.

JC-MPH share price ended up one cent at Singapore $1.31 on Wednesday.