Opcom proposes diversification into power generation via 49% stake purchase in Transgrid Ventures

The fibre optic cables manufacturer is proposing to diversify into the power generation and transmission business

KUALA LUMPUR: Opcom Holdings Bhd has proposed to diversify into the power generation and transmission business via the purchase of a 49% stake or 5.39 million shares in Transgrid Ventures Sdn Bhd for RM98mil.

Opcom, a manufacturer of fibre optic cables, said the proposed acquisition will be satisfied via a combination of cash and issuance of new shares in Opcom.