KUALA LUMPUR, April 16 (Bernama) -- Ekuiti Nasional Bhd (Ekuinas) has made its foray into the electronic manufacturing services (EMS) industry with the acquisition of a controlling stake in turnkey and components manufacturer, Flexi Versa Group Sdn Bhd (FVG), for RM330 million.
In a statement today, its Chief Executive Officer (CEO), Syed Yasir Arafat Syed Abd Kadir, said this was Ekuinas' second investment in the manufacturing sector following the acquisition of a homegrown lighting design and consultancy firm Davex (M) Sdn Bhd in December 2017.
'Ekuinas' investment strategy is to identify strong and high-potential Malaysian companies with the desire to grow and expand regionally.
"FVG's solid fundamentals and market potentials were key factors in our decision process," he said.
Syed Yasir Arafat said FVG's financial track record and operational capabilities, specifically in its ability to integrate different entities and formulate its strategy, underpinned its strong position with revenue of approximately RM300 million and would serve as a basis for growth locally and within the region
FVG's business commenced in 1994 while the investment holding vehicle was incorporated in 2013 to drive the management's vision towards creating an EMS group.....