KUCHING: Zhejiang, China-based battery maker Jujiang Power Technology Co Ltd (JJ) has emerged as a joint-venture partner in ABM Fujiya Bhd
(AFujiya) by taking a 40% stake in the latter’s indirect wholly-owned subsidiary, Fuya Energy Sdn Bhd (FESB).
JJ subscribed for 48 million new FESB shares at RM1 each for RM48mil. AFujiya wholly owns Amalgamated Batteries Manufacturing (Sarawak) Sdn Bhd (ABM), which, in turn, wholly owns FESB. With the issuance of the new shares to JJ, ABM’s equity interest in FESB has been reduced to 60%.
