KUALA LUMPUR (Nov 29): EP Manufacturing Bhd (EPMB), a company mainly involved in automotive and engineering, is undertaking a proposed private placement which is expected to raise gross proceeds of up to RM56.9 million.

In a filing with Bursa Malaysia on Monday, the group said that this will mainly be utilised to increase its production efficiency, equipping itself with the necessary facilities for the assembly of new car models as well as to allow EPMB to diversify into the property development business.