SINGAPORE (Dec 21): Catalist-listed Annica Holdings says its $4.2 million acquisition of a 49% stake in Horizon Greentech Resources, which was due for completion this Saturday, has been delayed for a further three months.

To recap, the group at end-2016 announced its intentions to diversify into the business of recycling tyres by acquiring Horizon Greentech from two individuals, Kok Mun Keong and Awang Ahmad Sah. The company runs a plant in Perak, which has a total of 15 production lines.

See: Annica eyes diversification into recycling business with $4.2 mil acquisition

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