PETALING JAYA: Chinese battery maker Jujiang Power Technology Co Ltd is proposing to subscribe to a 40% stake worth RM48mil in ABM Fujiya Bhd

’s (Afujiya) unit, Fuya Energy Sdn Bhd (FESB).

In a filing with Bursa Malaysia, Afujiya said the proposed subscription would serve as an avenue for FESB to settle the majority of the debt owing to Jujiang in an expeditious manner.