Boilermech acquires 35% TERA stake

Boilermech said the acquisition would be financed with internally generated funds.

PETALING JAYA: Boilermech Holdings Bhd has entered into a share acquisition agreement with Leong Jit Min for the acquisition of 245,000 shares, or a 35% stake, in TERA VA Sdn Bhd for RM8.2mil cash.

TERA is principally in the business of installation of solar green power energy products and electrical machinery products.

Boilermech said the acquisition would be financed with internally generated funds. The purchase comes with a profit guarantee of RM4.2mil, Boilermech stated in its filing with Bursa Malaysia.