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Corporate  |  JANUARY 29, 2016 4:10PM

Berjaya Auto buys 5% stake in Inokom

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inokom-vehicle-assembly-plant-in-KulimBerjaya Auto Bhd (BAuto) has acquired a 5% interest in Inokom Corp Bhd, comprising five million ordinary shares of RM1 each, from Berjaya Group Bhd for RM7.5 million.

In a statement today, BAuto said the acquisition, fully funded by internally generated funds, would allow it to hold a 29% stake in Inokom which would remain an associated company of the former.

BAuto said the acquisition would enable the company to increase its investment in Inokom, which is involved in the assembly of Madza’s completely knocked-down projects at a reasonable cost.

“The acquisition will not have any material effect on the nett equity funds and earnings of the BAuto Group for the current financial year ending April 30, 2016,” it said.



 
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