PETALING JAYA: Press Metal
Aluminium Holdings Bhd has proposed to acquire a further 35.6% stake in PMB Technology Bhd (PMBT) for RM464.95mil in cash, a move that will turn the silicon metal producer into a subsidiary, as the aluminium giant seeks to expand its silicon-aluminium alloy business.
The proposed acquisition involves the purchase of 664.22 million PMBT shares from five members of the Koon family at 70 sen per share. The sellers are Tan Sri Koon Poh Keong, Datuk Koon Poh Ming, Datuk Koon Poh Tat, Koon Poh Weng and Datuk Koon Poh Kong.
Upon completion, Press Metal’s stake in PMBT will increase from 23.2% to 58.8%.
Press Metal said the purchase price was negotiated on a willing buyer-willing seller basis and reflected the challenging outlook for the silicon metal industry, which continues to face structural oversupply and softer downstream demand.
The 70 sen offer represents a discount of about 4.1% to PMBT’s audited net assets per share of 73 sen as at Dec 31, 2025, and a 2.8% discount to its unaudited net assets per share of 72 sen as at March 31, 2026.
The acquisition will be funded entirely through internally generated funds and is not expected to require any material additional financial commitment beyond the purchase consideration, as PMBT’s operations are already running.
Press Metal said the transaction is aimed at repositioning PMBT’s operations away from silicon metal manufacturing towards higher-margin silicon-aluminium alloy production.
The company plans to leverage PMBT’s existing facilities, including its secured 129MW power supply and factory located within the Sarawak Corridor of Renewable Energy, to expand its silicon-aluminium alloy smelting capacity.
