PETALING JAYA: UMS Integration Ltd is proposing to acquire the remaining 30% in Starke Singapore Pte Ltd from Luah Kian Tiong and Yue Chee San for S$8.2mil (RM25mil).
In a filing with Bursa Malaysia, the semiconductor machinery manufacturing firm said Starke, a metal services, sourcing and centralised logistics firm, will become a wholly-owned subsidiary of the company following completion of the acquisition.
“The company wishes to undertake the acquisition to streamline the business operations of Starke with the group and to better manage the overhead costs of Starke.
“Accordingly, the board believes that the acquisition is in the interest of the group and the company’s shareholders.”
UMS acquired a 70% stake in Starke in 2018.
