Pecca buys 80% in GMK for RM1.88mil

PETALING JAYA: Pecca Group Bhd has completed the acquisition of an 80% stake in PT Gemilang Maju Kencana (GMK) from PT Multi Berjaya Asindo, CSC Automotive Sdn Bhd and Tan Kim Cheang for RM1.88mil cash.

In a filing with Bursa Malaysia yesterday, the automotive upholstery supplier said GMK’s principal business activity was the supply of upholstery leather wrapping and seat cover for the automotive industry in Indonesia.

The acquisition is part of Pecca’s international expansion plan.

GMK is a company associated with Indonesia’s PT Multi Pratama Interbuana Group, which offers industrial automation services.