The integrated facilities management (IFM) company has set its eyes on making an acquisition worth RM100 million within this year. GFM, which had earlier expressed an interest in expanding through a merger or acquisition, is eyeing acquiring local concessionaires as that will enable it to gain direct access to public-private partnerships (PPPs) from the government. GFM has yet to release its fourth-quarter financial results as it has just completed the reverse takeover of AsiaEP. UEM Edgenta mainly operates facilities in the healthcare segment and recently cemented its regional presence after completing its acquisition of a Singapore-based facilities management company, Asia Integrated Facility Solutions Pte Ltd, in December. GFM shares closed unchanged at 59.5 sen last Friday, bringing a market capitalisation of RM254.72 million.

Source: The Edge Markets March 13, 2017 01:52 UTC