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Article: MALAYSIA'S ACOUTECH RAISES STAKE IN FORMOSA PROSONIC.
- Article from:
- AsiaPulse News
- Article date:
- July 5, 2004
CopyrightCOPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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KUALA LUMPUR, July 5 Asia Pulse - Acoustech Berhad (KLSE:ACOU) has raised its stake in Formosa Prosonic Equipment Sdn Bhd (FPEQ) to 75 per cent following its recent acquisition of more shares in the manufacturer of water cooler dispensers.
It said that on 1 July 2004 it purchased an additional 18.98 per cent stake in the issued and paid capital of FPEQ from Mr Huang Yuan Hsien.
Acoustech said it paid Huang RM2.278 million (US$599,473) for his 1.139 million shares in FPEQ.
Acoustech said it will fund the share acquisition from internally generated funds.
The purchase price was arrived at on a willing buyer, willing ...