KUALA LUMPUR: Edelteq Holdings Bhd

has proposed to acquire the remaining 30% equity interest in Edelteq Ventures Sdn Bhd (EVSB), a subsidiary of the company, from Hana Microelectronics Public Company Limited for RM132.5mil cash.

In a filing with Bursa Malaysia, Edelteq said upon completion of the proposed acquisition, EVSB will become a wholly-owned subsidiary company of Edelteq.

The principal activities of EVSB is design, development and assembly of automated test equipment and factory automation, technical design and engineering services, manufacture and subcontract work of electronic products.

The proposed acquisition would enable Edelteq to fully consolidate the earnings of EVSB going forward, which has shown strong growth, recording a compound annual growth rate of 44.65% between the financial year ended Dec 31, 2021 and 2023.