Malaysian Econframe plans to expand its operations into the business of aluminium glazing, glass products and facade systems by acquiring a 65% equity interest in Lee & Yong Aluminium for MYR 17.2 million. The metal window and door manufacturing company also proposed to fully acquire the factory complex of Lee & Yong from Trans United for MYR 1 million. Econframe entered into the two conditional share sale agreement with Yong Kuen Hwan, 60, the sole director and shareholder of Lee & Yong and Trans United. He is also the current managing director of both companies, according to the group’s bourse filing. Lee & Yong is principally in the business of fabrication and installation of aluminium glazing and glass products and facade works. Trans United is the registered owner of a 3,189 sq metre piece of leasehold industrial land in Kelantan, on which it erected a factory complex owned by Lee & Yong.Maybank Ventures, a wholly-owned subsidiary of Malayan Banking Bhd led by the founders of HouzKEY, was set up to drive social inclusion by addressing challenges around access to homeownership, via collaborations.
Malaysian Econframe plans to expand its operations into the business of aluminium glazing, glass products and facade systems by acquiring a 65% equity interest in Lee & Yong Aluminium for MYR 17.2 million. The metal window and door manufacturing company also proposed to fully acquire the factory complex of Lee & Yong from Trans United for MYR 1 million. Econframe entered into the two conditional share sale agreement with Yong Kuen Hwan, 60, the sole director and shareholder of Lee & Yong and Trans United. He is also the current managing director of both companies, according to the group’s bourse filing. Lee & Yong is principally in the business of fabrication and installation of aluminium glazing and glass products and facade works. Trans United is the registered owner of a 3,189 sq metre piece of leasehold industrial land in Kelantan, on which it erected a factory complex owned by Lee & Yong.Maybank Ventures, a wholly-owned subsidiary of Malayan Banking Bhd led by the founders of HouzKEY, was set up to drive social inclusion by addressing challenges around access to homeownership, via collaborations.
