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Pentamaster’s unit proposes to take up stake in Taiwan optoelectronics manufacturer

04/07/2022 07:27 PM

KUALA LUMPUR, July 4 (Bernama) -- Pentamaster Corporation Bhd’s wholly-owned unit, Pentamaster InnoTeq Sdn Bhd (PISB) has proposed to subscribe to about 16.61 million new shares in Taiwan-based Everready Precision Industrial Corp (EPIC) for US$6.78 million (US$1=RM4.41).

In a filing with Bursa Malaysia today, Pentamaster said the proposed subscription represents 29.9 per cent of the enlarged equity interest in EPIC, a company principally involved in designing and manufacturing end-to-end optoelectronics solutions, from optical molds to lenses and 3D sensing modules.

It said the subscription price was arrived at after negotiations between the parties, with reference to EPIC’s intellectual properties and technology know-how, aside from its Greater China plans that are meeting Pentamaster’s business strategy’s objectives.

“EPIC has also proposed establishing a manufacturing joint venture in China with the investment arm of a major enterprise in China for its business expansion, where the subscription price has been factored into for such plan by EPIC,” it said.

According to Pentamaster, the optoelectronics market was valued at US$5.14 billion in 2020 and is expected to reach US$9.83 billion by 2026 -- growing at a compound annual growth rate (CAGR) of 10.25 per cent between 2021 and 2026.

It said the optoelectronics market had witnessed growing consumption across various verticals, as technological advancements and the growing demand for “smart” electronics with high precision and quality fueling such demand.

“Barring unforeseen circumstances, the board believes that the proposed subscription would contribute positively to the group’s financial performance in the medium to long term,” it added.




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