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.