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Hot Stock EP Manufacturing jumps 5.59% on tie-up to supply Mazda parts
by Cals Wed 02 Dec 2015, 20:39
- Hot Stock
[size=28]EP Manufacturing jumps 5.59% on tie-up to supply Mazda parts
By Surin Murugiah / theedgemarkets.com | December 2, 2015 : 11:54 AM MYTKUALA LUMPUR (Dec 2): EP Manufacturing Bhd ([You must be registered and logged in to see this image.] Valuation: 2.00, Fundamental: 0.50)'s shares jumped 5.59% late this morning after it tied up with Japan's Y-tec Corp to supply automotive parts to Mazda Malaysia Sdn Bhd (Mazda Malaysia).
At 11.17am, EP Manufacturing rose 4 sen to 75.5 sen with 125,300 shares traded.
In a filing with Bursa yesterday, the automotive systems and components manufacturer said its unit Peps-JV (M) Sdn Bhd has entered into a conditional shareholders' agreement with Y-tec for the establishment of a joint venture (JV) company.
"The JV company will be the vehicle for the proposed JV to supply automotive parts to Mazda Malaysia," said EP Manufacturing.
The products will be manufactured by Peps-JV (Kedah) Sdn Bhd, another wholly-owned subsidiary of the company.
EP Manufacturing said Peps-JV will hold a 60% equity stake in the JV company that is yet to be established, while the remaining 40% will be controlled by Y-tec.
(Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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