PETALING JAYA: Paragon Union Bhd
has entered into a joint venture (JV) with Japan-based aluminium recycler Asahi Seiren Co Ltd as it looks to expand its footprint in aluminium recycling-related services, particularly in the recovery of aluminium dross and scrap.
In a filing with Bursa Malaysia, the group said its wholly owned subsidiary, Paragon Metal Sdn Bhd (PMSB), signed a JV shareholders’ agreement with Asahi Seiren yesterday.
The partnership will see the two parties jointly establish a Malaysian-incorporated company to provide consultancy services and on-site operational support for aluminium recycling activities.
According to the filing, the JV is intended to offer “comprehensive consulting services and on-site support in the aspects of technical, operational and profit management in relation to the recycling of aluminium dross and aluminium scraps”.
The JV vehicle, Paragon Asahi Seiren Sdn Bhd, was incorporated on Dec 30, 2025, with an initial paid-up capital of RM500,000.
PMSB holds a 60% equity interest, having invested RM300,000, while Asahi Seiren owns the remaining 40% stake.
The shareholding structure is fixed unless altered by mutual agreement under the terms of the JV agreement.
The board of the JV company will comprise five directors, with three nominated by PMSB and two by Asahi Seiren.
