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Jubilee Industries boosts stake in EG Industries through open market purchase

CATALIST-listed Jubilee Industries Holdings has raised its stake in EG Industries with the acquisition of about 3.5 million shares for RM1.95 million (S$658,000 ) from the open market.

This lifts its stake from 11.72 per cent previously to 13.03 per cent.

Bursa Malaysia-listed EG is an electronic manufacturing services and vertical integration provider for brand-name electrical and electronic products across several industries.

Jubilee Industries' chairman, Terence Tea said: "Since our initial investment, EG has consistently achieved good financial performance and profitability. Being a key player in the downstream industry, we are pleased to acquire a higher stake in EG for the long-term prospects and growth of the group's electronics business unit and mechanical business unit in view of the improved global demand for electronic products."

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Jubilee Industries provides electronics components, precision plastic injection moulding and mould design and fabrication services.