Shares of UMS end 2% higher after purchase of stake in Starke Singapore
The counter had increased by as much as 8.6% to S$1.63 in the morning
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[SINGAPORE] Shares in UMS Integration surged over 8 per cent in early trade on Tuesday (Mar 3) after it bought a 30 per cent stake in Starke Singapore – a privately held aluminium alloy products supplier – for S$8.2 million.
The counter rose more than 7 per cent to reach S$1.61 in the morning, before hitting S$1.63 by 9.05 am, up 8.6 per cent. It subsequently pared some gains to land at S$1.62, still trading 8 per cent or S$0.12 higher, after 8.4 million securities changed hands. UMS shares ended the day up 2 per cent at S$1.53.
This move by the group will be funded by its internal resources and/or bank borrowings, said UMS. It will thereby convert Starke Singapore into a subsidiary of the group, too.
Net profit attributable to the 30 per cent stake in Starke Singapore was about S$985,450 for the financial year ended Dec 31, 2025. The net tangible asset value stood at around S$57.10 a share, reported The Business Times previously.
Starke Singapore supplies precision engineering players, including UMS.
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