Aemulus unit to take full control of China JV company

PETALING JAYA: Aemulus Corp Sdn Bhd (ACSB), a full subsidiary of Aemulus Holdings Bhd, had agreed to purchase the remaining 60% equity interest in China-based Tangming Shengshi Technology (Jiashan) Co Ltd (TMSS) for a cash consideration of 25 million yuan.

The equity transfer deal, conducted with vendor Tangren Microtelligence Technology (Jiashan) Co. Ltd., assumes an exchange rate of 60.18 sen to one yuan, which implies that the deal will be worth approximately RM15mil.