Tiger Synergy to expand to semiconductor biz

KUALA LUMPUR: Property developer Tiger Synergy Bhd has proposed to acquire a 100% stake in BPE Synergy Engineering Sdn Bhd for RM16 million, a move to diversify its business to the semiconductor industry.
The acquisition will be satisfied through the issuance of 200 million Tiger Synergy shares at an issue price of 8 sen per share, hence shareholders of BPE will then hold about 10% stake in Tiger Synergy.
The deal is expected to be completed within the first half of the year.
At a memorandum of understanding ceremomy today, Tiger Synergy managing director Shirley Tan Lee Chin said the acquisition will entail a profit guarantee of at least RM2 million a year for a period of three years.
Malacca-based BPE is specialised in design and assembly printed circuit board (PCB), design, fabrication, assembly mechanical parts and PCB repair & recondition services.