Econframe Berhad has acquired Lee & Yong Aluminium Sdn. Bhd and Trans United Sdn. Bhd as part of its expansion plan in the aluminum business.
The group is an established manufacturer of metal doors and window frames in Malaysia and since listing on the ACE Market it saw its net profit ballooning to RM2.97 million for the fourth quarter ending Aug 31, 2022 (4QFY22), from RM50,000 in 2021. Econframe said this was carried by higher revenue driven by a greater volume of orders fulfilled, as for the first quarter of 2023, its net profit stands at RM2.33 million.
“We at Ecoframe Berhad are pleased to announce the expansion of our product offering and business diversification through this acquisition. With steady growth and consistent corporate milestones achieved throughout the years, we have decided to acquire both LYASB and TUSB. Our business expansion is primarily driven by our confidence in the positive outlook of the property market which is rebounding post-Covid, and to complement our existing core business to provide a one-stop, total solution for our partners,” commented Lim Chin Horng, the Managing Director of Econframe Berhad.
Econframe Berhad is acquiring a 65% equity interest in LYSAB, which is principally involved in the fabrication and installation of aluminium glazing, glass products and façade works comprising aluminium windows, glass doors and more, and a 100% equity interest in TUSB for the land on the factory and operations of LYSAB is operating from.
“We are acquiring LYASB and its subsidiary as they are both in a complementary business to Econframe Berhad. This acquisition will help expand our business to provide aluminium glazing, glass products and façade systems. We believe that with this decision to grow our company will highlight synergistic investment for our company as well as serve as a platform for us to capitalise on LYASB’s expertise,” Lim Chin Horng further added.
