GFM Services eyes expansion via M&As

KUALA LUMPUR: GFM Services Bhd, which assumed the listing status of AsiaEP Resources Bhd today, is looking to expand via mergers and acquisitions (M&A), joint ventures (JV) and collaborations.

"We are excited about the future prospects of the industry and aim to expand into new revenue streams by entering into strategic M&As, JVs and collaborations," its managing director Ruslan Nordin told reporters today.

He said there are several M&A proposals and is confident of concluding one deal by year-end.

He declined to reveal the number of proposals or which parties they are in talks with, saying only that they will focus on the local and regional markets.

The integrated facilities management provider made its debut at 46 sen today, 8 sen higher than its offer price of 38 sen per share, with a total of 3.28 million shares traded.