Dancomech Holdings Berhad and UTC Engineering Sdn Bhd agreed to acquire 70% stake in JusEV Charging Network Sdn Bhd from Yew Teik Choon for MYR 0.07 million.

Dancomech Holdings Berhad (KLSE:DANCO) and UTC Engineering Sdn Bhd agreed to acquire 70% stake in JusEV Charging Network Sdn Bhd from Yew Teik Choon for MYR 0.07 million on February 17, 2023. 0.051 million ordinary shares (representing 51% equity interest) and 0.019 million ordinary shares (representing 19% equity interest) in JusEV Charging Network Sdn Bhd for cash consideration of MYR 0.051 million and MYR 0.019 million, respectively subject to the completion of the transfers of the Sale Shares. The Proposed Acquisition is not subject to the approval of the shareholders of Dancomech or any relevant authorities.

Dancomech board of directors has approved the transaction.