Techbond Group Berhad (KLSE:TECHBND) entered into agreement to acquire 99.57% stake in Malayan Adhesives & Chemicals Sdn Bhd from ChemQuest Sdn Bhd for MYR 57 million on December 27, 2022. The Total Purchase Consideration will be funded through a combination of internally generated funds and/or bank borrowings. Kenanga Investment Bank Berhad (KLSE:KENANGA) acted as financial advisor to Techbond Group Berhad (KLSE:TECHBND). As of July 2022, net assets were of MYR 37 million. As of February 22, 2023, shareholders of TECHBOND GROUP BERHAD approved the transaction.

Techbond Group Berhad (KLSE:TECHBND) completed the acquisition of 99.57% stake in Malayan Adhesives & Chemicals Sdn Bhd from ChemQuest Sdn Bhd on February 28, 2023.