# Techbond to acquire Malayan Adhesives And Chemicals for RM57.25 million

Techbond Group Berhad received shareholder approval to acquire up to 100% equity interest in Malayan Adhesives And Chemicals Sdn. Bhd. for approximately RM57.25 million. The acquisition includes a 99.57% stake from Chemquest Sdn. Bhd. and the remaining 0.43% from minority shareholders.

- Type: Acquisition
- Announced: 2023-02-23
- Where: Shah Alam, Selangor, Malaysia
- Value: $13.0M (57.3M MYR)
- Status: announced
- Products: adhesives, resins, additives, formaldehyde, phenoset microspheres
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Malayan Adhesives and Chemicals Sdn Bhd](https://endata.com/companies/67538.md) (target)
- [Chemquest Sdn Bhd](https://endata.com/companies/67539.md) (partner)
- [Techbond Group Berhad](https://endata.com/companies/68745.md) (acquirer)

## Sources

- [businesstoday.com.my](https://www.businesstoday.com.my/2023/02/23/techbond-gets-shareholders-green-light-to-acquire-rm57-25-million-adhesives-and-chemicals-specialist/), 2023-02-23: "We are very excited with the prospects and benefits arising from this Proposed Acquisition, which is in line our long-term strategy to grow our business, both organically and inorganically."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.