EP MANUFACTURING SHARES UP AFTER SIGNING OF AGREEMENT WITH CHINESE AUTOMAKER
KUALA LUMPUR, April 16 (Bernama) -- EP Manufacturing Bhd shares on Bursa Malaysia rose in the early trade today following its signing of a landmark vehicle assembly agreement with China-based automobile manufacturer BAIC International Development Co Ltd.
As of 10.10 am, the counter increased three sen to 69.5 sen with 5.31 million shares changing hands.
The maker of automotive parts and components announced yesterday that it has inked a vehicle assembly co-operation agreement with BAIC International Development Co Ltd to solidify a strategic partnership spanning a 10-year period starting April 8, 2024.
EP Manufacturing said under the terms of the agreement, its wholly-owned unit Peps-JV (Melaka) Sdn Bhd will undertake the assembly and production of BAIC vehicles in Malaysia.
It said BAIC will provide relevant technical support and training, as well as guidance and supervision on the assembly and manufacturing process.
Meanwhile, EP Manufacturing is to serve as the vehicle assembler, ensuring that BAIC’s vehicles are meticulously assembled to meet the highest standards of quality and performance.
The company noted the synergistic alliance between both companies represents a convergence of Malaysian and Chinese expertise with mutual growth opportunities, positioning Malaysia to become a pivotal destination for BAIC’s production activities.
-- BERNAMA
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