It is estimated that the global aluminum doors and windows market will reach US$75.5 billion in 2030, with an annual growth rate of more than 4%. We can see that this company will continue to grow
💢 Announcement (I) INCORPORATION OF DUROE GLASS SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF ECONFRAME; AND (II) PROPOSED ACQUISITION OF MACHINERIES AND MOTOR VEHICLES BY DUROE GLASS SDN. BHD. FROM SURIA KACA SDN. BHD., FOR A PURCHASE CONSIDERATION OF RM3,000,000.00 💢
💢 The Board of Directors of Econframe wishes to announce the Company had on 3 September 2024, incorporated a wholly-owned subsidiary, namely Duroe Glass Sdn. Bhd. (“Duroe Glass”). Simultaneous with the incorporation of Duroe Glass, the Company had through Duroe Glass entered into an Assets Purchase Agreement with Suria Kaca Sdn. Bhd. (“Suria Kaca” or the “Vendor”), for the acquisition of machineries and motor vehicles (“Assets”) for a purchase consideration of RM3,000,000.00, of which RM2,996,500.00 is to be satisfied in cash and the remaining RM3,500.00 shall be via the issuance and allotment of 3,500 new ordinary shares in the share capital of Duroe Glass (“Consideration Shares”) at an issue price of RM1.00 per Consideration Share to the Vendor’s appointed nominee, i.e. Mr. Sim Han Kai (“Mr. Sim”) (“Proposed Acquisition of Assets”).
In conjunction with the Proposed Acquisition of Assets, the Company had, on the same date, entered into a Shareholders’ Agreement with Mr. Sim, who is also the director and major shareholder of Suria Kaca, for the purpose of regulating their relationship with one another and to record the terms agreed between them to govern the management and operations in relation to Duroe Glass. 💢
This few days market seem to have lesser traders around... as the volume remain pretty low in total... but luckily our econframe seem to have consistent trading in volume and people are queuing as well... 🤑
End of this month for the completion of buying assets of Suria Kaca and it will stop operating where by Mr SIm will join Econframe's Duroe Glass as director with 35% holding and parent company Econ hold 65%...
👁🗨 With these developments, $EFRAME (0227.BMS)$ is clearly not standing still. It’s growing, acquiring, and positioning itself as a major player in the Malaysian building materials market. If you’re not looking at this company yet, you might want to start paying attention.
The Next Growth Chapter for Econframe Berhad [LorieGan wrote a post · Sep 4 20:58]
EFRAME has just taken a major step in strengthening its market presence and operational efficiency with a new corporate exercise. As a long-time investor in EFRAME, this latest news caught my attention.
Let’s dive into what’s happening and why it could be game-changing for the company. A New Subsidiary and Asset Acquisition
EFRAME has incorporated a wholly-owned subsidiary, Duroe Glass Sdn Bhd, and has entered into an agreement to purchase machinery and motor vehicles from Suria Kaca Sdn Bhd for RM3 million.
This acquisition includes key machinery such as glass-cutting machines, glass tempering ovens, and several other critical equipment essential for glass processing. This move positions Econframe to bring glass processing in-house, marking a significant shift in how the company operates.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
BradonOoi
804 posts
Posted by BradonOoi > 2024-08-23 17:39 | Report Abuse
Got one catalyst currently. If Jerome Powell says the Fed will cut rates at Jackson Hole, then this counter will rise with the entire market