China-based food processing and duck farming company HB Global Ltd has acquired 5G fibre optic cable company, Forward Resources and Construction Sdn Bhd (FRC) with RM1.1 billion project value. In a statement Thursday, the group said the acquisition comes with a profit guarantee of RM20 million for two cumulative financial years. It has also proposed to diversify into the business of construction and engineering solution services. Following the acquisition of 60 per cent stake in FRC for RM66 million, the group said FRC is expected to contribute over 25 per cent of the net profit, going forward