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Article: MWE Holdings to go more hi-tech

Article from:
New Straits Times
Article date:
January 2, 1998
Copyright

New Straits Times
01-02-1998
MWE Holdings Bhd is undertaking a restructuring exercise for its
electronic division in a bid to better focus on activities which are more
high-tech rather than those which are labour-intensive.

First, the company is acquiring another 1.44 million shares
representing 20 per cent equity in Davex Holdings Bhd from Australia Stock
Exchange- listed Electrotech Investments Ltd for RM11 million.

With this purchase, MWE's shareholding in Davex would be increased to
71.1 per cent.

Davex was incorporated in Malaysia on Oct 21, 1985. It is an
investment holding company with subsidiaries involved in manufacturing
and trading of electronic and electrical products.

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