01-07-2025
- Business
- Malaysian Reserve
CC International to acquire Labuan trust company Alpadis for RM3.2m
CC International Bhd (CCIB), through its indirect wholly owned subsidiary Indah Secretarial (Penang) Sdn Bhd (ISPG), is acquiring the entire equity in Alpadis Trust (Labuan) Ltd for a total cash consideration of US$750,000 (RM3.16 million).
In a Bursa Malaysia filing, the group said it had entered into a share purchase agreement with the Switzerland-based vendor, Alpadis Group Holding AG, on June 30.
The acquisition will give CCIB full ownership of Alpadis, a licensed Labuan trust company involved in providing corporate and fiduciary services for asset protection, estate and tax planning, and wealth management.
Alpadis was incorporated in 2011 and posted a profit after tax of US$5,661 in FY2024 on revenue of US$530,567, following a stronger FY2023 performance of US$16,759 in PAT on US$771,923 revenue.
The deal, which is subject to approval from Labuan Financial Services Authority (LFSA), is expected to be completed in 4Q2025.
Alpadis will become a wholly owned unit of ISPG, and indirectly of CCIB, upon completion.
The deal will be funded via proceeds from CCIB's private placement exercise completed in July 2023. As at June 30, RM3.16 million of the earmarked RM20.7 million for M&A remains available for use.
'This acquisition allows CCIB to expand its regional reach and acquire Alpadis' existing client base,' the group said, adding that the deal is expected to contribute positively to the group's future earnings. Alpadis' MD Chau Ken Vui will be appointed as director post-completion.
CCIB's board believes the proposed acquisition is in the best interest of the group and aligns with its strategic expansion in professional services. — TMR
