PETALING JAYA: OSK Holdings Bhd, via subsidiary Olympic Cable Company Sdn Bhd, has entered into an agreement to acquire Universal Cable (M) Bhd’s assets.
Universal Cable, currently under liquidation, will dispose of its two manufacturing plants in Tebrau and Plentong, Johor, together with land and machinery for a total purchase consideration of RM85 million.
With the proposed acquisition, Olympic Cable is poised to expand its capabilities, particularly in the high-voltage cable segment, solidifying its market presence in Malaysia.
OSK group managing director Ong Ju Yan said the acquisition of an existing plant and its operations would accelerate the group’s production volume and capabilities.
“This strategic acquisition marks a pivotal moment in our growth trajectory. By integrating an established plant and its operations, we are not only boosting our production capacity but also accelerating our innovation capabilities. This expansion is a critical component of our strategy to grow our presence in the cable manufacturing sector, enhancing our competitive edge in securing major contracts both locally and internationally. We are confident that the acquisition will contribute positively to the financial performance of the group in the long run,” he added.
Olympic Cable has a portfolio which includes the manufacturing and sale of copper and aluminium low-voltage and medium-voltage cables, fire-resistant cables, solar DC cables, fibre optic cables and transmission cables. The company has a 56-year track record serving industries including power utilities, infrastructure, and construction.
