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PETALING JAYA: Ge-Shen Corp Bhd
is acquiring 3.3 million shares, representing a 60% stake in rubber products and medical devices manufacturer Kibaru Manufacturing Sdn Bhd for RM16.8mil.
In a filing with Bursa Malaysia, Ge-Shen said it was acquiring the stake from shareholders Ooi Eng Kim, Ong Yu Yuen, Ong Yu Zhi, Sho Kim Lian, Tan Pei Pei and Un Chee Wei.
“The proposed acquisition will enable Ge-Shen to further expand its overall engineering and manufacturing capabilities and product offerings to its customers.
“Kibaru Group’s operations include manufacturing capabilities in a wide variety of custom moulded and extruded elastomer products which is a necessary material or component in a wide range of products in many industries, especially the medical industry.”
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