Pentamaster buys stake in Taiwan-based Everready Precision Industrial


PETALING JAYA: Pentamaster Corp Bhd‘s wholly-owned subsidiary, Pentamaster InnoTeq Sdn Bhd (PISB) has subscribed to a 29.9% stake in Everready Precision Industrial Corp (EPIC) for US$6.78mil (RM29.88mil).

EPIC is especially concerned in designing and manufacturing end-to-end optoelectronics options that cowl optical moulds to lenses and 3D sensing modules.

In a submitting with Bursa Malaysia, Pentamaster mentioned the subscription worth of US$0.4079 (RM1.80) per share was arrived at after arm’s size negotiations between each the events.

The settlement took under consideration EPIC’s mental properties and expertise know-how, in addition to its Greater China, plans that meet Pentamaster’s enterprise technique aims.

“EPIC has also proposed establishing a manufacturing joint venture in China with the investment arm of a major enterprise in China for its business expansion where the subscription price has been factored into for such plan by EPIC,” Pentamaster mentioned.

Upon completion of the proposed subscription, PISB might be entitled to nominate one of many board of administrators in EPIC.

“The proposed subscription is intended to expand Pentamaster’sbusiness through investment into technology solutions and applications that are synergistic to the group. Particularly on the group’s business strategies in its geographical expansion and product and solution diversification in

vertically integrating for its electro-optical segment.

“Barring unforeseen circumstance, the Board believes that the proposed subscription would contribute positively to Pentamaster’s financial performance in the medium to long term,” it mentioned.

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