Thai tyre maker N.D. Rubber has acquired a Malaysian tyre and tube maker for $12.9 million. Meanwhile, listed property developer Univentures Pcl has purchased majority stake in local smart home systems solution provider.
NDR acquires motorbike tire factory in Malaysia
Thai-listed tyre maker N.D. Rubber Plc (NDR) has acquired Malaysian tyre manufacturer Fung Keong Rubber Manufactory Malaya (FKRMM) from Consistent Record Sdn Bhd for 53 million ringgit ($12.9 million).
The acquisition of the Malaysian factory is an effort to secure its market share in Malaysia and produce value-added products, according to the filing to the Stock Exchange of Thailand on Sunday.
NDR will issue 55 million new ordinary shares, worth 28.6 million ringgit, to Consistent Record and it will pay the remaining balance in cash.
After the transaction is completed, Consistent Record will hold 20.31 per cent of NDR’s paid-up capital and appoint Data Marco Low Peng Kiat to be NDR’s director.
Chaiyasit Samrittivanicha, managing director of N.D. Rubber, said the FKRMM has been a customer of NDR for more than a decade.
Univentures Capital buys 80% stake in AheadAll
Univentures Capital Co Ltd, a subsidiary of SET-listed property investment firm Univentures Pcl, has acquired 80 per cent stake in AheadAll Co Ltd from Erawan Junction Co Ltd, for 81.28 million baht ($2.5 million).
AheadAll is engaged in the distribution and installation of the electronic appliances control and safety systems.
This acquisition is in line with the group’s investment policy to focus on the potential growth of the real estate business.
“AheadAll will be an integral part to support and enhance the potential of our large size real estate projects,” said Univentures’ company secretary Pornchai Katejinakul.