KUALA LUMPUR: Ajiya Bhd has teamed up with YKGI Holdings Bhd to explore areas where they can synergise and optimise both companies’ manufacturing resources in Sabah and Sarawak to enhance their revenue and profitability via a joint-venture, business combination or any other form of business arrangement. In a filing with Bursa Malaysia yesterday, Ajiya said it last Friday signed a memorandum of understanding (MoU) with YKGI with the intention of establishing a long-term strategic business partnership between both companies. “The MoU allows both companies to form the basis of consensus to examine the feasibility of the proposed partnership. “Both parties have agreed to promptly negotiate exclusively in good faith, the detailed terms and conditions of the proposed partnership. Ajiya shares closed 0.5 sen or 0.63% lower at 78.5 sen yesterday, with a market capitalisation of RM239.1 million.

Source: The Edge Markets October 25, 2016 01:57 UTC