Ta Win enters JV to set up new cable manufacturing business
14 Apr 2019
Published on 14 Apr 2019
Ta Win Holdings Bhd is teaming up with three parties to develop a new cable manufacturing business using electron beam technology in Malaysia.
The copper wire and rod manufacturer said it has entered an agreement with two individuuals — Justin Wong Chee Feeng and Wong Ah Piaw — and Latitude Technology Sdn Bhd, to jointly set up a firm that would invest in, set up and operate the new business.
The firm will produce and commercialise irradiation cross-linked wire and cable products, which will in turn support local automotive and home appliance sector original equipment manufacturers, Ta Win said in a filing with Bursa Malaysia.
A Survey by The Edge Malaysia
The firm, it added, aims to achieve a high profit margin through the implementation of the electron beam technology in the wire and cable manufacturing, while also expanding its position in the automotive cable market in Asian countries.
Both Justin and Ah Piaw are involved in the wire and cable business in Malaysia. In particular, Wong is experienced in the sales and marketing of copper wire and cables, while Ah Piaw has three and half decades in the wire and cable industry, and has been working with the Malaysia Nuclear Agency to commercialise the electron beam irradiation technology in wire and cable manufacturing.
Meanwhile Latitude Technology is involved in the provision of consultancy trading services related to manufacturing plant setup, sales and product marketing related to the electron beam irradiation technology.
Ta Win said it will maintain an 80% stake in the new firm though, with Justin and Ah Piaw holding 10% interest and Latitude Technology, the balance 10%.
Ta Win’s share price closed half a sen higher at 52.5 sen today, with 2.99 million shares traded, giving the group a market capitalisation of RM41.40 million.
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