KUALA LUMPUR (July 22): ACE Market-listed Artroniq Bhd has proposed the full acquisition of Paklin Venture Capital Sdn Bhd for RM1.6 million in cash as it spots growth prospects of the lending market in Malaysia. Just a week ago, Artroniq Bhd had proposed to acquire a 60% stake in Penang-based Fujim Digital Sdn Bhd (FDSB) for RM12 million to diversify and include precision engineering and machinery parts manufacturing in its business. It added that the latest desired venture was considered after taking into consideration the growth prospects particularly of the alternative lending market, due to the strict lending requirements imposed by licensed financial institutions. Artroniq’s share price closed unchanged at 47 sen on Friday, giving it a market capitalisation of RM147.79 million. Read also: Artroniq proposes diversification into precision engineering business

Source: The Edge Markets July 23, 2022 02:51 UTC