PETALING JAYA: Ge-Shen Corp Bhd
is proposing to acquire a 40% stake in Local Assembly Sdn Bhd, an electronic manufacturing service (EMS) provider, for RM48mil.
In a statement, the contract manufacturer said the acquisition will expand its presence in the EMS market.
Ge-Shen is acquiring the company from its three co-founders, namely Chai Voon Sun (37.5% interest), Gurmakh Singh Ajmer Singh (22.5%) and Wee Thian Song (15%).
“The board believes the acquisition will complement the existing business, enabling cross-marketing of products with diverse designs and specifications to a broader clientele.
“This will also drive synergistic value across the company through shared technology know-how,” it said.
