KUALA LUMPUR (Aug 21): China-listed Ninestar Corp’s wholly-owned subsidiary Static Control Holdings Ltd (SCC) has acquired an approximately 9.09% stake in Jadi Imaging Holdings Bhd following the completion of a share subscription agreement.
Jadi, which manufactures toners for laser printers and photocopiers, said in a statement yesterday SCC holds some 9.09% of the enlarged equity base in Jadi and will have a board representation in Jadi to contribute to closer business cooperation between the companies.
Together with the share subscription deal, Jadi and SCC simultaneously signed a supply agreement under which SCC committed to buying a quantity of chemical toners manufactured by Jadi for three years, starting from April 2020.Read more…