Handal acquires crane company for RM8mil


Handal cranes

PETALING JAYA: Handal Energy Bhd is proposing to acquire a 30% stake in crane and lifting solutions provider Tenzin Heavy Machinery (M) Sdn Bhd for RM8mil.

In a filing with Bursa Malaysia, Handal said it had entered into a share sale and purchase agreement with Tenzin’s shareholders, namely, Datin Tee Bee Geok and KSP Vista Sdn Bhd, for the proposed acquisition.

“The proposed acquisition is a strategic move by Handal, which would offer numerous benefits to the group’s existing business activities including aligned strategic direction, market expansion, operational efficiencies, access to resources, and improved financial performance.

“Barring any unforeseen circumstances, the board believes that the proposed acquisition may potentially augur well for the future growth prospects of the group,” it said.

Handal said the proposed acquisition is expected to be completed before or by July 2024.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Handal , Tenzin , acquisition

   

Next In Business News

Tony Fernandes: Capital A expects better performance in 2H24
Thailand agrees to waive fees for hotels for 2 more years, official says
Chinese developer Shimao sweetens debt revamp terms ahead of liquidation hearing, sources say
Atome Financial gets up to US$100mil debt facility including from EvolutionX for expansion
Oil prices steady, U.S. consumer price data in focus
Tengku Zafrul: Miti, MoT to mull bolstering airport infrastructure for semiconductor exports
China to create new consumption scenarios to tap consumer demand
Asian shares mostly higher, yen hits record low versus euro
MAHB's passenger traffic hits new milestone of 11.2mil
Malaysian Genomics to market 'GenomeCheck' testing services in SEA

Others Also Read