KUALA LUMPUR (Jan 6): Techfast Holdings Bhd plans to diversify into petroleum trading and oil bunkering by acquiring a 35% stake in a company that supplies marine fuels. The group said it is buying the stake in CCK Petroleum Sdn Bhd from Kuah Choon Ching for RM26.25 million, of which RM16.17 million will be paid in cash and the balance via the issuance of 23.44 new Techfast shares at 43 sen per share. In a filing today, Techfast said the diversification into petroleum trading was aimed at expanding its revenue and profits, and reducing its reliance on its manufacturing business segment. The group manufactures self-clinching fasteners, mould e-learning rubber sheets and LED epoxy encapsulate materials.