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Tag: Resintech Berhad

  • Resintech Bhd Proposes Bonus Share and Warrant Issues

    Resintech Bhd Proposes Bonus Share and Warrant Issues

    Resintech Berhad (7232; RESINTC), a fully integrated provider of polyethylene products and unplasticized polyvinyl chloride (uPVC), has today proposed a bonus issue of up to 50,308,463 new ordinary shares on the basis of 1 bonus share for every 3 existing Resintech shares as well as a proposed bonus issue of up to 100,616,926 free warrants on the basis of 1 warrant for every 2 existing Resintech shares.

    Dato’ Dr. Teh Kim Poo, Managing Director of Resintech Berhad

    The entitlement date for the bonus issue of new ordinary shares will be determined and announced later by Resintech’s Board of Directors (“the Board”) while the entitlement date for the bonus issue of free warrants will be determined and announced later by the Board based on the names of shareholders appearing in the Company’s record of securities holders.

    The bonus shares will be entitled to the bonus warrants as the proposed issue of warrants will be implemented following the completion of the proposed bonus issue of shares.

    Managing Director of Resintech, Dato’ Dr. Teh Kim Poo said, “The proposed bonus issue of shares and warrants is to reward shareholders as the increase in the number of shares come at no cost to existing shareholders while the warrants enable them to participate in the derivative of the Company’s shares at no cost and at the same time provide them with an opportunity to increase their equity participation through exercising their warrants.”

    “The bonus share issue will also improve trading liquidity of Resintech shares through increasing the number of shares issued while the warrants will strengthen the Company’s capital base and shareholders’ funds as and when they are exercised.”

    Resintech recently signed a Memorandum of Understanding to acquire a 30% stake in Bionutricia Holding Sdn. Bhd. (“Bionutricia”) from the controlling shareholders for the sum of RM8.7 million.

    Bionutricia is a biotechnology firm specialising in the production and commercialisation of plant- and fruit-based extracts and active fractions from local herbs through advanced nano-biotechnology processes.

    Resintech Bhd: 7232 / [BURSA: RESINTC] [RIC: RESN:KL] [BBG: RESI:MK]
    Resintech Bhd: https://resintechmalaysia.my/

  • Resintech Bhd Acquires 30% stake in Bionutricia for RM8.7 Million

    Resintech Bhd Acquires 30% stake in Bionutricia for RM8.7 Million

    Company sees growth from use of plant and fruit extracts for food supplement and healthcare products

    Resintech Berhad (Bursa: RESINTC, 7232), a fully integrated provider of polyethylene products and unplasticized polyvinyl chloride (uPVC), is pleased to announce the signing of a Memorandum of Understanding (MoU) for the acquisition of a 30% stake in Bionutricia Holding Sdn. Bhd. from the controlling shareholders for the sum of RM8.7 million.

    Mr. Ng Kuak Ping, CEO of Bionutricia; Mr. Teh Leng Kang, ED of Resintech Bhd; Ms. Kong Siew Mee, GM of Bionutricia [L-R]
    Bionutricia is a biotechnology firm established in 2006 specialising in the production and commercialisation of plant- and fruit-based extracts and active fractions from local herbs through advanced nano-biotechnology processes. Bionutricia’s products include proprietary standardised herbal plants and fruits-based extracts, food supplement, baking ingredients, nutraceutical ingredients, healthcare products and functional food ingredients. Its facilities are certified GMP, HACCP, JAKIM Halal and kosher.

    Resintech is acquiring the stake from the controlling shareholders, Ng Kuak Ping (“Ng”) and Kong Siew Mee, Bionutricia’s Chief Executive Officer and General Manager, respectively.

    Managing Director of Resintech, Dato’ Dr. Teh Kim Poo said, “The heightened awareness and education on food safety in recent years have meant that people are more careful in what goes into the processing of the food and beverages they consume. Bionutricia’s green biotechnology extraction processes are suitable for colouring and flavouring in food and beverages because of the natural ingredients used”.

    “Our entry into the biotechnology space through the acquisition of the 30% stake in Bionutricia is recognition of the growth opportunities from the increasing food-safety awareness among consumers. We expect demand for safer and natural food colourants and flavourings to grow exponentially as a result of these health and food-safety concerns.”

    Ng of Bionutricia said, “We look forward to a mutually beneficial partnership with Resintech and we are excited to work with them on the growth possibilities for our products and solutions in the food and beverage industry. Together, we are better able to seek opportunities to expand the business.”

    Resintech registered revenue of RM61.6 million for the nine months ended 31 December 2021 (“9MFYE22”), an increase of 13.2% compared with RM54.4 million in the corresponding period of 9MFYE21. The Company recorded RM5.0 million in profit before tax in 9MFYE22, a decrease of 7.4% compared with RM5.4 million while there was a 15.8% decrease in profit after tax to RM3.2 million compared with RM3.8 million in the previous corresponding period mainly due to movement restrictions and disruptions to business operations.