Sarawak Cable Bhd (Sarawak Cable) has proposed to acquire 100 per cent equity interests in Universal Cable (M) Bhd (Universal Cable) and Leader Cable Industry Bhd (Leader Cable) for RM210 million.

The company in a filing to Bursa Malaysia proposed to acquire all the remaining interests in both companies from HNG Capital Sdn Bhd (HNG Capital).  “The proposed acquisition of RM210 million will be settled through a combination of cash and the issuance of new ordinary shares of 50 sen each in Sarawak Cable,” the group said.

The principal activities of Universal Cable are the manufacture and sale of telecommunication and power cables while the principal activities of Leader Cable are the manufacture and sale of telecommunication cables, low and high voltage power cables for domestic and export markets.