Ge-Shen’s EMS diversification gets go-ahead


PETALING JAYA: Contract manufacturer Ge-Shen Corp Bhd has received shareholder approval for its diversification into the electronic manufacturing services (EMS) industry and the acquisition of Local Assembly Sdn Bhd (LA) at its EGM yesterday.

In a statement, Ge-Shen said the endorsement marked a significant advancement in its initiative to enhance business growth and expand its manufacturing capabilities.

“The approved diversification strategy involves incorporating EMS into Ge-Shen’s existing suite of manufacturing solutions, which include plastic injection moulding, precision engineering and design and prototyping.”

Ge-Shen’s shareholders also approved the 40% equity interest buy in LA, a local EMS player, for RM48mil from existing shareholders Chai Voon Sun, Gurmakh Singh and Wee Thian Song.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

China's central bank might cut interest rates from current level of 1.5% in 2025, FT reports
FBM KLCI bounces despite Wall St stumble on jobs report
Ringgit weakens versus US$, higher against major currencies
Trading ideas: Maxis, Pentamaster, Awanbiru, KNM, Sunway REIT, Peterlabs, Maybank, Ebobuilt, YXPM, MMC, Ocean Vantage, Karex, Velocity
Wall St ends lower on first trading session of 2025
Oil prices settle up on China optimism
Asset quality of banks likely to remain stable
Cautious sentiment expected to prevail
Ecobuilt risks trading suspension
November air passenger traffic up

Others Also Read