KUALA LUMPUR: Dialog Group Bhd's wholly-owned subsidiary, Dialog Systems (Asia) Pte Ltd, is acquiring a 51 per cent stake in
India's Anewa Engineering Private Ltd for RM7.88 million.
In a filing to Bursa Malaysia today, it said the proposed transaction will further provides access to new customers in various parts of the world, namely in the Middle East and India.
It was also in line with Dialog's strategy of focusing and growing its core businesses, penetrating new markets and investing in businesses with a long term sustainable income.
Anewa is an outsourcing company that provides engineering design to customers, mainly multinational companies in India, the Middle East and Southeast Asia in the oil, gas and petrochemical industry.
Under the exercise, Dialog's unit will finance the purchase consideration from its own funds and/or borrowings. It is expected to be completed by end of next month.
No comments:
Post a Comment