Jubilee to widen scope of electronics business

AFTER an abortive attempt to become an Iskandar property developer, Catalist-listed Jubilee Industries Holdings is now poised to expand downstream in the electronics business that it was originally in.

Supported by major shareholder WE Holdings, it will buy 26 per cent of Malaysia-listed electronics manufacturer EG Industries, as well as the electronics component distribution business of WE Holdings, WE Components (WEC).

A non-binding memorandum of understanding has been signed on the WEC deal. WEC will be bought by Jubilee in cash, with a premium to net tangible asset value to be agreed upon.