Press Metal Aluminium Holdings Berhad has proposed to acquire a further 35.6% stake in PMB Technology Berhad (PMBT) for RM464.95 million in cash, a move that will increase its shareholding to approximately 58.8% and transform PMBT into a subsidiary.
The proposed acquisition involves the purchase of 664.22 million PMBT shares from five members of the Koon family at RM0.70 per share under a conditional share sale agreement signed on Aug 3.
The sellers are Tan Sri Dato’ Koon Poh Keong, Datuk Koon Poh Ming, Dato’ Koon Poh Tat, Koon Poh Weng and Datuk Koon Poh Kong.
Upon completion, PMAH’s ownership in PMBT will increase from its existing 23.2% stake to a controlling interest of 58.8%.
PMAH said the acquisition represents a strategic opportunity to reposition PMBT’s business amid prolonged weakness in the global silicon metal market.
While PMBT has traditionally focused on manufacturing and distributing silicon metal and aluminium products, the company has been hit by a sharp decline in silicon prices over the past several years.
Silicon metal prices have fallen significantly from US$3.47 per pound in 2022 to US$1.27 per pound as at July 24, 2026, resulting in PMBT swinging from a net profit attributable to shareholders of RM110.4 million in financial year 2022 to a net loss of RM12.8 million in financial year 2025.
PMAH said industry conditions remain challenging due to structural oversupply, softer downstream demand and continued weakness in the US dollar, which could continue to pressure earnings.
Following the acquisition, the group intends to repurpose PMBT’s operations by shifting production away from silicon metal towards silicon-aluminium alloy smelting, subject to approvals from PMBT’s board, shareholders and relevant regulatory authorities.
The company believes the strategic pivot will enable the group to focus on higher-margin products supported by resilient global demand from clean energy and industrial applications.
