LUSTER (5068): LUSTER INDUSTRIES BHD to buy 5.6% stake in Aimflex for RM10.3m
KUALA LUMPUR (Jan 11): Luster Industries Bhd has said it will subscribe for 81.58 million shares or a 5.55% stake in Aimflex Bhd (formerly known as I-Stone Group Bhd), at 12.67 sen per share or a total sum of RM10.34 million.
In a filing with Bursa Malaysia, Luster said the move is expected to allow potential synergies between the plastic parts and metal parts manufacturer and Aimflex, such as sharing customer bases.
"The subscription may enable Luster's manufacturing business segment to leverage Aimflex's expertise and experience in the manufacturing and modification of automation machines and fabrication of precision parts and metal panels, to create business opportunities to promote and embrace the digital revolution in accordance to the introduction of Industry 4.0," the group said.
Luster said the subscription will be funded by internally generated funds and/or bank borrowings.
Shares in Aimflex ended unchanged at 16 sen, giving the group a market capitalisation of RM195.86 million.
Luster, meanwhile, finished 0.5 sen or 3.45% lower at 14 sen, valuing the company at RM405 million.
http://www.theedgemarkets.com/article/luster-industries-buy-56-stake-aimflex-rm103m
Singapore Investment
-
-
-
-
Quick Update4 hours ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
How to we keep the dead alive?21 hours ago
-
-
-
-
-
-
-
The History of CapitaLand1 day ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
CICT 1Q2024 Business Updates3 days ago
-
-
-
-
Keyboarding Warriors5 days ago
-
-
-
Cory Diary : Portfolio updates5 days ago
-
-
-
Weekly Markets Outlook6 days ago
-
-
-
-
-
-
-
-
Buying a home for face1 week ago
-
-
-
-
-
Finance Investment Movement 441 week ago
-
-
-
-
-
-
-
Banks and Miles Report – Mar 20242 weeks ago
-
Revisiting Bitcoin2 weeks ago
-
-
-
2024 (Portfolio Update)3 weeks ago
-
-
-
Retirement Journey Update for March 20243 weeks ago
-
-
-
1Q 2024 Investment Strategy Update3 weeks ago
-
-
Portfolio Summary for March 20243 weeks ago
-
-
-
Portfolio (March 30, 2024)4 weeks ago
-
-
-
QAF #77 - 2023 Annual Report4 weeks ago
-
Lentor Hills Residences4 weeks ago
-
Burnt out!4 weeks ago
-
-
-
Feb 2024 Expenditure4 weeks ago
-
-
Starting Our Second Property Cycle5 weeks ago
-
-
-
-
-
-
-
Feb 2024 Portfolio1 month ago
-
-
Summary of February 20241 month ago
-
The Market Is A Scam!1 month ago
-
-
-
-
-
-
-
-
-
Options Trading Journal Jan 20242 months ago
-
-
-
-
-
-
-
End of 2023 Review3 months ago
-
-
Year 2023 DIYQuant Portfolio Performance Report3 months ago
-
Monthly Summary of November 20234 months ago
-
3 Simple Poker Strategies for Beginners4 months ago
-
Migration of website5 months ago
-
-
Abandon REITS?5 months ago
-
-
-
-
-
-
-
-
-
August 2023 Portfolio Updates7 months ago
-
-
-
-
Hello SP Group, I'm Back!9 months ago
-
-
-
-
A New Light11 months ago
-
-
-
-
-
-
-
Demoralized1 year ago
-
2022 Thoughts, Hello 2023!1 year ago
-
Series of Defaults for Maple Finance1 year ago
-
Takeaways from “Sea Change”1 year ago
-
-
Greed is Coming Back1 year ago
-
-
-
-
-
-
-
-
-
-
-
What is Overemployment1 year ago
-
-
-
-
-
-
-
-
-
-
-