PETALING JAYA: AMS Advanced Material Bhd has acquired the remaining 10% equity interest in its 90%-owned subsidiary, AMS Aluprecision from Chew Soon Yuan for RM550,000.
AMS Aluprecision is principally involved in the business of manufacturing and processing of semi-finished aluminium.
In a filing with Bursa Malaysia, AMS said AMS Aluprecision will be its wholly-owned subsidiary following the acquisition.
“The acquisition will enable AMS to consolidate its ownership in AMS Aluprecision by acquiring the remaining 10% equity interest not already owned by AMS.
“This will allow the group to fully benefit from the future earnings and growth of AMS Aluprecision without any attribution of profits to non-controlling interests.”
Additionally, it said the full ownership of AMS Aluprecision will provide the AMS group with greater flexibility in determining and implementing the future business direction and strategies of AMS Aluprecision, as well as facilitate more efficient decision-making and allocation of resources within the group.
