KUALA LUMPUR: Ta Win Holdings Bhd has partnered with RR One Capital D.O.O. to form a joint venture company (JVC) to further embrace the massive electric vehicles (EVs) revolution.
Under the partnership, RR One will make available to Ta Win of its technical know-how in relation to smart contracts on blockchain in the infrastructure development of EV charging stations and integrated charging ecosystem.
RR One will also potentially be a strategic investor in Ta Win through the subscription of shares via the proposed private placement.
Ta Win plans to issue a minimum of 682.7 million shares, raising about RM109.2 million in proceeds, based on an illustrated issue price of 16 sen per placement share.
It has also tabled a maximum scenario of issuing a total of 1.2 billion shares, which will raise about RM187.8 million proceeds, based on similar illustrative price of 16 sen each.
The company is setting up the first privately-owned electron beam irradiation plant in Malaysia with patented proprietary cross-linking / ionising irradiation treatment using electron beam irradiation technology.
Following its maiden foray into Aptiv PLC's (Aptiv) global automotive supply chain, Ta Win also intends to accelerate into the EV industry by establishing three electron beam irradiation plants.
These plants will enable it to develop technology solutions and manufacture highly engineered products that enable customers to respond to the mega trend in EV.
Ta Win group managing director Datuk Seri Ngu Tieng Ung said the automotive industry was undergoing rapid development in mega trends.
These include increasing demand for EVs equipped with latest automotive solutions, advanced technologies and vehicle connectivity, as well as increasing government regulations related to vehicle safety, fuel efficiency and emissions control.
"We believe that the revolution of EVs has just begun and it will only be a matter of time before this segment achieves exponential growth," he said in a statement today.
Based on the minimum scenario drawn out for the private placement, Ta Win said it had allocated about 99.3 per cent of the proceeds for its business expansion especially in the EV value chain.
"With that and the potential collaboration with RR One, Ta Win will be well positioned to pursue and capture the exponential growth in these mega trends," Ngu said.