Recomm Co., Ltd. completed the acquisition of Sin Lian Wah Lighting Sdn. Bhd., from Sin Lian Wah Electric Sdn. Bhd., Chia Khin Shing, Maggie Tan Mei Chee and 3 others.
October 07, 2021
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Recomm Co., Ltd. (JASDAQ:3323) entered into a share transfer agreement to acquire Sin Lian Wah Lighting Sdn. Bhd., from Sin Lian Wah Electric Sdn. Bhd., Chia Khin Shing, Maggie Tan Mei Chee and 3 others for approximately ¥730 million on August 30, 2021. Pursuant to the terms of the agreement, Recomm Co., Ltd., shall acquire 1.3 million shares in Sin Lian Wah Lighting Sdn. Bhd. Sin Lian Wah Electric Sdn. Bhd., will sell 66% stake, Chia Khin Shing and Maggie Tan Mei Chee will sell 15% stake each, whereas three other shareholders will sell a total of the remaining 4% stake in Sin Lian Wah Lighting Sdn. Bhd. For the year ended June 30, 2021, Sin Lian Wah Lighting Sdn. Bhd., had net assets of ¥659 million, total assets of ¥985 million, sales of ¥1.61 billion, operating income of ¥147 million and net income of ¥118 million. The Board of Directors of Recomm Co., Ltd., resolved upon the transaction on August 30, 2021. The execution date of the agreement is expected to be October 8, 2021.
Recomm Co., Ltd. (JASDAQ:3323) completed the acquisition of Sin Lian Wah Lighting Sdn. Bhd., from Sin Lian Wah Electric Sdn. Bhd., Chia Khin Shing, Maggie Tan Mei Chee and 3 others on October 8, 2021.
RECOMM CO., LTD., formerly RECOMM HOLDINGS CO., LTD., is a Japan-based holding company mainly engaged in the information communication equipment business. The Company operates in three business segments. The Information Communication segment sells business phones, digital multifunction peripherals (MFPs) and other office automation (OA) equipment through the Company's operating stores, franchise stores and agencies. The Business Process Outsourcing (BPO) business operates outsourced business from within the group, outsourced business from customers outside the group mainly in China. The Overseas Corporate segment sells eco products such as LEDs and information communication equipment in China and Vietnam.
Recomm Co., Ltd. completed the acquisition of Sin Lian Wah Lighting Sdn. Bhd., from Sin Lian Wah Electric Sdn. Bhd., Chia Khin Shing, Maggie Tan Mei Chee and 3 others.
RECOMM CO., LTD. 
