Industronnics Berhad which specialises in security management and communication solution has entered into a non-binding Letter of Intent with Bluemount Financial Group Limited to discuss and explore the potential acquisition of up to 10% equity interest in Bluemount based on an indicative valuation of up to MYR12.5 million.
Bluemount Financial Group Limited is a comprehensive financial group integrating securities brokerage, asset management, and credit services. The Group says it is well funded with abundant capital, has much familiarity with the operation of markets, and practices rigorous internal control systems. It offers services like Hong Kong Share trading, Securities Margin trading, Hong Kong Shares IPO, Fund products and Private Equity Fund Management among others.
This will be complete diversification of business venture for Industronics which is prmarily in technology solutions, however the company is a well established organisation incorporated in 1975. The company is well known in Malaysia and internationally for its many high profile products, services and projects implemented.