APB proposes acquisition of 10.41% stake in Globetronics

KUALA LUMPUR: APB Bhd has proposed to diversify into the semiconductor manufacturing and distribution business by acquiring 70 million shares representing a 10.41% stake in Globetronics Technology Bhd for RM140mil.

The share sale deal was inked with General Produce Agency Sdn Bhd and Ng Kweng Chong Holdings Sdn Bhd, to purchase their respective 6.89% and 3.52% stakes in Globetronics, it said in a stock exchange filing.