Artroniq to purchase remaining 49% stake in AISB for RM14.7mil


KUALA LUMPUR: Artroniq Bhd has proposed to amass the remaining 49% stake in Artroniq Innovation Sdn Bhd for RM14.7mil.

The ICT firm, in a submitting with Bursa Malaysia, stated it entered right into a conditional shares sale settlement with Heng Chip Hian and Seniq Kinetic Sdn Bhd for the proposed acquisition.

It stated the acquisition can be happy through the issuance and allotment of 26.06 million Artroniq shares on the concern value of RM0.5639 per Artroniq Share.

Upon completion of the proposed acquisition, AISB will likely be a wholly-owned subsidiary of Artroniq.

Artroniq stated it had been concerned within the distribution of ICT merchandise and associated actions since 2018.

As a part of its technique to broaden its worthwhile ICT enterprise, Artroniq has in 2021 established AISB as a 51%-owned subsidiary to undertake the supply of POS options and distribution of POS {hardware}, peripherals and associated companies.

Since its institution in 2021, AISB has generated a income of RM9.9mil within the FPE 2021. AISB has fulfilled orders totaling RM5.1mil in the course of the interval from January 2022 to March 2022, and has an order e-book amounting to RM5.8mil as at March 31.

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