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KUALA LUMPUR: Shares in BSL Corp Bhd climbed to a record high in early trade Tuesday after it planned to acquire Singapore-based SD Unify Pte Ltd to increase its exposure in the semiconductor sector.
The counter added 7.01%, or 11 sen to RM1.68, its record high with 4.2 million shares traded at 9.10am. Year-to-date, the counter has risen a whopping 342%.
BSL has signed a memorandum of understanding (MoU) with two Singaporean nationals, namely, Jerry Tan Gim Moh and Tan Hoon Bee (vendors) to acquire SD Unify.
SD Unify is principally involved in the business of manufacturing and repairing semiconductor foundry equipment.
The purchase price has yet to be determined.
BSL Corp executive director Brian Hoo Wai Keong said given the current market demand, the proposed acquisition of SD Unify was timely for the group to extend its market reach in the semiconductor sector.
"BSL Corp is involved in contract manufacturing with exposure in the electrical and electronics, solar farm & renewable energy and to a smaller extent, semiconductor sectors.
"With this proposed acquisition, BSL Corp will be able to increase its exposure in the semiconductor industry. This is part of BSL Corp's revitalisation strategy to fast forward our exposure in the semiconductor industry," he said.