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Article: MALAYSIA'S DELLOYD ACQUIRES 51 PCT STAKE IN INDONESIAN BUS MAKER.
- Article from:
- AsiaPulse News
- Article date:
- March 5, 2008
CopyrightCOPYRIGHT 2008 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, March 5 Asia Pulse - Delloyd Ventures Berhad (KLSE:6505) on Tuesday said its indirectly-owned subsiidary, Delloyd Corporation Sdn Bhd (DCSB), has agreed to acquire a 51 per cent stake in Indonesian bus maker PT Asian Auto International (PT AAI) for Rp5.1 billion (US$561,000) cash.
PT AAI, which was incorporated on 23 May 2007, is mainly involved in the manufacturing and assembly of complete built-up (CBU) bus and bus chassis.
"The proposed venture will serve to increase the earnings base of the group and strengthen the group's competitiveness and reputation regionally," Delloyd said in a statement to Bursa Malaysia on March 4.
It ...