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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Morgan Stanley strategists see inflation as key for path of US stocks
US: Wall Street opens higher as rate-cut hopes linger
Tyson raises outlook as lower costs boost chicken segment
US dollar soft on renewed Fed rate cut bets; yen on back foot
Possible class action lawsuit against Cordlife by customers could take at least 2 years
SAP extends CEO Klein’s contract until 2028