Opcom expands into satellite telecom via 18% stake purchase in Binacom

KUALA LUMPUR: Opcom Holdings Bhd's wholly-owned subsidiary Opcom VC Sdn Bhd is expanding into the satellite communications space by acquiring 70 million shares, representing 18.03% equity interest, in Binasat Communications Bhd (Binacom) for RM39.2mil or 56 sen per share.

Johnson Chang, managing director of Opcom, said the fibre optic cables manufacturer and telco network infrastructure firm will realise immense potential in the acquisition.