Malaysian Bulk Carriers Berhad (KLSE:MAYBULK) entered into an agreement to acquire EMT Systems Sdn Bhd from Grand East Metal (Kulim) Sdn. Bhd. and Goh Ting Hong for MYR 70 million on January 18, 2023.

Malaysian Bulk Carriers Berhad will acquire 1 million shares of EMT Systems Sdn Bhd for cash. The Purchase Consideration shall be fully satisfied in cash from the internally generated funds of MBC and its subsidiaries. The transaction is subject to approval from board of directors of EMT Systems. The Acquisition is expected to be completed within 1 month of signing of the agreement.

Kenanga Investment Bank Berhad (KLSE:KENANGA) acted as financial advisor to Malaysian Bulk Carriers Berhad.