KUALA LUMPUR: Serba Dinamik Holdings Bhd’s subsidiary, Serba Dinamik International Ltd has proposed to acquire 123.17 million shares or 24.84 per cent stake in Singapore listed technology company, CSE Global Ltd for RM170.57 million from its existing shareholders.
In an exchange filing yesterday, Serba Dinamik said the acquisition will allow the company to gain a stake in a profitable target with its own financial capabilities and ready order books without the requirement for further capital injection.
Group managing director Datuk Dr Mohd Abdul Karim Abdullah said the acquisition is in line with the company’s overall strategy to enlarge its geographical footprint into countries where CSE Global has presence.
“It includes countries that Serba Dinamik does not have presence in, namely the USA, Mexico, Australia and New Zealand, of which USA contributes to 56.9 per cent of CSE Global total revenue,” he said in a separate statement.
CSE Global is a leading systems integrator, focusing on the provision and installation of a variety of control systems as well as turnkey telecommunication network and security solutions, targeting the oil and gas, infrastructure and mining industries.[Source: “Serba Dinamik’s unit acquires 24.84pc stake in CSE Global for RM170.57m” published by News Straits Time]