Wednesday, September 14, 2011

Notion VTec seeks buyers for tool design subsidiary

KUALA LUMPUR: Hard disk drive manufacturer NOTION VTEC BHD [] seeks to dispose of its 70% stake in Swiss Impression Sdn Bhd, which is involved in the tool design for consumer electronic devices.

The company said on Wednesday, Sept 14 it was looking to dispose of the subsidiary due to the uncertain outlook of the latter's financial position and the current challenging environment for the industry.

Swiss Impression is involved in the design of tooling and volume manufacturing of high precision appearance parts using progressive die stamping for digital cameras, MP3 players and other consumer electronic devices.

Notion VTec appointed Ferrier Hodgson MH Sdn Bhd of Monteiro & Heng Chambers to assist in the proposed disposal.

It added the disposal will not have any effect on shareholder interest, earnings per share, net assets per share or gearing.

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