Asia Poly buys 50% stake in Darwell Asia

PETALING JAYA: Asia Poly Holdings Bhd is acquiring 250,000 shares, representing a 50% stake in Darwell Asia Pacific Sdn Bhd – a company involved in providing end-to-end solutions and technical expertise in telecommunications engineering and information technology support services, for RM6.1mil.

In a filing with Bursa Malaysia, Asia Poly said it is acquiring the stake from Darwell’s directors, Ooi Chee Seong and Tan Lian Li, who have a 68% and 2% stake in Darwell, respectively.

Ooi and Tan will be disposing of 48% and 2% of their respective stakes in Darwell. The remaining 30% stake in Darwell is owned by Thoo Soon Huat, who is a director in Asia Poly.

“The rationale of acquisition is to venture into telecommunications engineering and data centre support services as the new segment of the group to strengthen the company’s portfolio,” it added.

“The acquisition is not expected to have any material effect on the gearing, earnings and net assets of the group for the financial year ending Dec 31, 2024,” said Asia Poly.