KUALA LUMPUR: Betamek Bhd, an original design manufacturer, has completed the acquisition of Sanshin (Malaysia) Sdn Bhd.
Betamek bought a 100.0 per cent stake in Sanshin for RM13.4 million.
The acquisition is valued at a price-to-earnings multiple of 10.0 times, based on Sanshin's audited net profit of RM1.3 million, highlighting both the strategic value and financial health of the acquired entity.
"This acquisition positions Sanshin as a wholly-owned subsidiary of Betamek, significantly broadening Betamek's customer base and further cementing its market presence," it said.
Betamek executive director Muhammad Fauzi Abd Ghani said the completion marks a pivotal moment for the company.
"By integrating Sanshin's expertise and established market presence with our own, we are poised to diversify our customer base and expand our product offerings.
"This move aligns with our strategic vision to lead and innovate within the automotive electronics industry, driving forward the evolution of automotive electronics amidst a thriving market," he added.
Betamek's share price closed at 40.5 sen, giving it a market capitalisation of RM182.3 million.