Duty Free International rose 2.99% on Monday to close at 0.069 yuan. Duty Free International) intends to acquire 100% of the equity of Malaysian auto parts manufacturer United Industries Holdings Sdn. Bhd (UIH for short), for RM175 million...
Duty Free International rose 2.99% on Monday to close at 0.069 yuan.
Duty Free International) intends to acquire 100% of the equity of Malaysian auto parts manufacturer United Industries Holdings Sdn. Bhd (UIH for short), for RM175 million (S$52.5 million), to expand its core business to the automotive parts manufacturing field to diversify its business.
This acquisition marks a major transformation of the duty-free international business. The board said this will help broaden revenue sources, enhance the group's risk resistance, and bring more resilient long-term returns to shareholders.
Duty Free International issued a statement on Monday (July 21) saying that UIH has more than 50 years of experience in automotive parts production in Malaysia, specializing in supplying key components to automotive original equipment manufacturers (OEMs). The Group achieved a net profit of RM22.98 million in the fiscal year ended February 2025.
