Ta Win in JV to produce high-margin cable products

As the value of the company is tied to the performance of the company, it is in the interest of the warring shareholders to argue and fight outside the company.

PETALING JAYA: Enamelled copper wire and rod manufacturer Ta Win Holdings Bhd is set to expand its production capacity and manufacture high-margin products, following its latest partnership to make cables using electron beam irradiation technology in Malaysia.

The loss-making company told the stock exchange yesterday that its wholly owned subsidiary, Cyprium Capital Sdn Bhd, had inked a joint-venture (JV) agreement with Justin Wong Chee Feng, Wong Ah Piaw and Latitude Technology Sdn Bhd to set up a new cable-manufacturing business in the country.

A special-purpose vehicle (SPV), namely, Cyprium Wire Technology Sdn Bhd, will be incorporated on a later date for the JV. A total of RM15mil is expected to be invested in the SPV by all the parties.

Ta Win’s Cyprium Capital will control 80% of the SPV and will fund its participation in the strategic partnership via internally generated funds.

“The proposed JV is not expected to have an immediate material effect on the earnings, net assets and gearing of Ta Win for the financial year ending June 30, 2019.

“However, the proposed JV is expected to contribute positively to the future earnings of Ta Win. The proposed joint venture does not require approval from the shareholders of Ta Win or any relevant authorities,” stated the company in its Bursa Malaysia filing.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

Tanco bags RM172.66mil land reclamation job in Melaka
Sapura Energy CFO Reza leaves, Chew to take over�
Southern Steel registers RM47.9mil net profit in FY21
BDB-MBI Kedah JV to develop Langkawi Premium Outlets
Astro posts lower Q2 net profit due to elevated content cost�
Southern Acids Q1 net profit climbs on higher commodity prices�
Bursa Malaysia ends higher after volatile trading
Public Bank clinches record Best Bank in Malaysia award for 15 years
Universal Music Group shares surge on stock market debut
Evergrande woes hit Japan's toilet, air-conditioner and paint manufacturers

Stories You'll Enjoy