KUALA LUMPUR (Dec 1): RGT Bhd is buying a 70% stake in Keenness Precision Engineering Sdn Bhd (KPESB) for RM9.8 million, in a move to further venture into electronic manufacturing service.
RGT is buying the stake from KPESB's directors Ooi Swang Kieat and Tan Eng Thuan, the group said in a bourse filing.
RGT, which is involved in making moulded plastic products and automation, said KPESB provides precision metal parts and components.
"KPESB will be able to meet its existing customers' growing capacity requirements, while providing precision metal parts and components to complement RGT's other customers,” it added.
RGT's share price closed 1.5 sen or 2.33% lower at 63 sen on Wednesday (Dec 1), valuing the group at RM423.96 million.
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