Formosa Prosonic Industries Berhad acquired Formosa Prosonic Technics Sdn. Bhd. from Acoustech Berhad.
For the year ended December 31, 2016, Formosa Prosonic Technics Sdn. Bhd. reported total revenue of MYR 54.17 million, loss before tax of MYR 2.47 million, loss after tax of MYR 1.87 million and net assets of MYR 38.77 million. The transaction is subject to conduct of commercial, legal and financial due diligence on Formosa Prosonic Technics Sdn. Bhd., approval of board of directors of all parties, approval of other relevant authority or person. The transaction is expected to be completed by first quarter of 2018.
As of January 2, 2018, all the terms of the agreement have been fully satisfied. Formosa Prosonic Industries Berhad completed the acquisition of Formosa Prosonic Technics Sdn. Bhd. from Acoustech Berhad on January 2, 2018. Post-acquisition Formosa Prosonic Technics Sdn. Bhd. and its subsidiaries became the wholly-owned subsidiaries of Formosa Prosonic Industries Berhad.