Artroniq gets shareholders' nod for diversification

Artroniq chief financial officer Marcus Chin Choon Wei

KUALA LUMPUR: Artroniq Bhd has received approval from its shareholders to diversify into the electric bicycles (e-bikes) business as part of its strategy to diversify its income stream.

“The e-bikes business not only adds an additional income stream, but it also enhances our earnings with a contribution of 25% or more in net profit besides resulting in the diversion of 25% or more of the company’s net assets,” chief financial officer Marcus Chin Choon Wei said in a statement.