KUALA LUMPUR (March 30): Pentamaster Corp Bhd said that its subsidiary Pentamaster Technology (M) Sdn Bhd (PTSB) had in turn established a wholly foreign-owned limited liability company in Germany named Pentamaster Automation (Germany) GmbH (PAG).
In a bourse filing, Pentamaster said that the setting up of PAG is part of the group’s expansion plan to broaden its geographical footprint into Europe.
The group already has distributors and customers in Europe. This marks Pentamaster’s fifth international setup, after the US, China, Japan and Singapore, based on its latest annual report.
PAG’s principal activity involves the design and development, production and sales of automated test equipment, factory automation systems and other handling solutions, as well as providing consulting services and related support services.
PAG was incorporated with a share capital of €25,000 (RM120,306) on Wednesday (March 29), in pursuant to the provisions of the German Act on Limited Liability Companies.
Pentamaster said that with the exception of Chuah Choon Bin and Gan Pei Joo being directors of Pentamaster and PTSB, none of the directors and/or substantial shareholders of Pentamaster had any interest in PAG.
Pentamaster closed eight sen or 1.68% higher at RM4.84 a share on Thursday, valuing the group at RM3.45 billion.
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