Super Enterprise, which makes adhesive labels, told Bursa Malaysia on Wednesday it had received a “non-binding indication of interest” dated March 27 from the Ohio-headquartered company to explore a potential transaction involving the shares of Super Enterprise.
Super Enterprise said MCC had indicated the scope of the due diligence would include, among others, the operations of Super Enterprise and its subsidiaries, customers, suppliers and financials of the group.
Super Enterprise cautioned that the above interest from MCC was at an exploratory stage.
“There is no assurance that a definite offer from MCC will materialise. The board notes the recent increase in its share price and wishes to remind shareholders to trade with caution,” it advised.
Super Enterprise shares, which closed at RM2.73 on Monday prior to its requested trading suspension, had been climbing since two weeks ago. On March 17, the counter had closed at RM1.81.
For the nine months ended Dec 31, 2014, Super Enterprise boosted its net profit by 53% to RM6.54mil on turnover of RM104.1mil.
Besides Malaysia, the group has operations in Thailand, the Philippines, Indonesia and China (Guangzhou).
As for MCC, it is a leader in global label solutions supporting the world’s most prominent brands, including leading producers of home and personal care, wine and spirit, food and beverage and specialty consumer products.
While it has sales and manufacturing operations in Australia and China, it does not have presence in South-East Asia based on its portal’s operations location map.
MCC whose shares are traded on the Nasdaq Global Select Market Exchange, has a market capitalisation of US$1.15bil as at March 31.