JMR to buy Unico Electronics

0

KUCHING: JMR Conglomeration Bhd (JMR), via its subsidiary Rantronics Sdn. Bhd. (RSB), has recently entered into a share-sale and purchase agreement to acquire 3,000,000 shares of RM1 each, which represented 50 per cent equity-interest in Unico Electronics (Penang) Sdn. Bhd. (Unico Electronics).

In a statement from Bursa Malaysia, the agreement was sealed with vendor Wong Thai Sun, in relation to the proposed acquisition, for a total cash consideration of RM945,000.

Unico Electronics, incorporated in 1989, is primarily engaged in manufacturing, assembling and installing electronics, computer components and other related products. Its authorised share capital is 10 million ordinary shares, of which six million have been issued and fully paid-up.

In its statement, JMR said that the prospects of Unico Electronics are encouraging due to the potential increase in demand for electronic components and other products.

It is expected that the acquisition would be completed by the first quarter of this year.

However, it would not have any significant materialisation on JMR’s share capital and earnings per share for the financial year ending March 31 this year.