Quick take: Ta Win rises 4% on tie-up with Terengganu strategic investment agency

  • Stock on the Move
  • Thursday, 30 Jul 2020

KUALA LUMPUR: Shares in Ta Win Holdings Bhd rose over 4% in early trade after the company announced a partnership with Perbadanan Memajukan Iktisad Negeri Terengganu (PMINT) to develop an industrial park.

The copper wire and rod maker added 4.26%, or one sen to 24.5 sen with 15.11 million shares done. Ta Win-Pa and Ta Win-WA added 0.5 sen each to 14.5 sen amd 8.5 sen respectively.

Ta Win is teaming up with PMINT to jointly develop an industrial park at a gross development cost of RM2.4bil in Kemaman, Terengganu.

Ta Win said it has entered into a JV agreement (JVA) with PMINT for the proposed development likened to the Kitakyushu Eco-Town project in Fukuoka, Japan.

Ta Win said the proposed JV will enable its business operations to be further integrated into the supply chain of the non-ferrous metal industry as the industry players from upstream and downstream of the supply chain of that industry are pooled together to form an industrial ecosystem in the industrial park.

Under the JVA, a JV company called Ta Win Copper Ecocycle Sdn Bhd will be established to facilitate the proposed development.

Ta Win will hold an 80% stake in Ta Win Copper Ecocycle, while PMINT will own the remaining 20% shares.

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