On behalf of the Board of Directors of the Company, Kenanga Investment Bank Berhad wishes to announce that the Company had on 18 January 2023 entered into a share sale agreement with Grand East Metal (Kulim) Sdn Bhd and Goh Ting Hong (collectively referred to as the “Vendors”) for the acquisition of 1,000,000 ordinary shares in EMTS, representing the entire equity interest in EMTS, for a total purchase consideration of RM70,000,000.
Following the Acquisition, EMTS will become a wholly-owned subsidiary of MBC.
Please refer to the attachment for further details.
This announcement is dated 18 January 2023.