KUALA LUMPUR: Japan's Toshiba Corporation has acquired a 75% equity stake in TopRank Corporation Sdn Bhd, which is involved in the manufacture and engineering of transmission and distribution equipment, for an undisclosed sum.
Toshiba said on its website on Wednesday, June 8 that the Petaling Jaya-based TopRank would be used as its platform to promote the expansion of its transmission and distribution and other businesses in Southeast Asian markets.
TopRank, which will be renamed Toshiba Transmission & Distribution Systems Asia Sdn. Bhd (TTDA), manufactures and markets medium voltage switchgear and vacuum circuit breakers for power systems and industrial systems, mainly for the Malaysian market.
It also provides energy automation systems and undertakes engineering, procurement and CONSTRUCTION [] projects for transmission and distribution systems.
'Toshiba will position TTDA as its global supply center for medium voltage switchgears and vacuum circuit breakers and core operation for sales and engineering, procurement and construction of transmission and distribution systems.
'TTDA will also promote expansion of Toshiba's photovoltaic power generation and smart grid businesses, which are seen as promising new markets in Southeast Asia. The company will target net sales of 50 billion yen in fiscal year 2015,' it said.
The shareholding structure after the acquisition would see Toshiba holding 75% and Global Kiara Holdings 25%.
Toshiba said on its website on Wednesday, June 8 that the Petaling Jaya-based TopRank would be used as its platform to promote the expansion of its transmission and distribution and other businesses in Southeast Asian markets.
TopRank, which will be renamed Toshiba Transmission & Distribution Systems Asia Sdn. Bhd (TTDA), manufactures and markets medium voltage switchgear and vacuum circuit breakers for power systems and industrial systems, mainly for the Malaysian market.
It also provides energy automation systems and undertakes engineering, procurement and CONSTRUCTION [] projects for transmission and distribution systems.
'Toshiba will position TTDA as its global supply center for medium voltage switchgears and vacuum circuit breakers and core operation for sales and engineering, procurement and construction of transmission and distribution systems.
'TTDA will also promote expansion of Toshiba's photovoltaic power generation and smart grid businesses, which are seen as promising new markets in Southeast Asia. The company will target net sales of 50 billion yen in fiscal year 2015,' it said.
The shareholding structure after the acquisition would see Toshiba holding 75% and Global Kiara Holdings 25%.
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