TECO Invests Over RM200 Million to Acquire Approximately 77.9% Stake in Dynaciate

ASEAN Financial Special Report (Total 300 articles)

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(Central News Agency, Taipei, 12th) TECO Electric & Machinery's board of directors today resolved to acquire approximately 17,803,588 shares of Dynaciate Engineering Sdn. Bhd. for no more than RM201,562,640, with a transaction price of RM11.32 per unit, expecting a shareholding ratio of no more than 77.9%; TECO stated that this is mainly a strategic investment.

According to Dynaciate Engineering's official website, the company was established in May 2002 and currently mainly engages in engineering construction of factories, facilities, and buildings, steel structure manufacturing, and related products and services. It also involves on-site construction and related activities in general industrial and oil and gas industries. 1150512

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