Bermaz Auto Berhad through its wholly owned subsidiary, Bermaz Capital Sdn Bhd has entered into a conditional share subscription agreement with EP Manufacturing Bhd to subscribe for 33,042,439 new ordinary shares representing approximately 15% of the existing issued share capital of EPM for a total cash consideration of approximately RM19.8 million or at RM0.60 per EPM Share.

The EPM Group is principally involved in the manufacturing and supply of metal body panels, chassis parts and modular assembly of automotive parts and components to original equipment manufacturers. Its customer base includes, among others, Mazda, Perodua, Proton and Honda and is undertaking an expansion plan which involves, among others, the proposed construction of new assembly manufacturing plant in Melaka. To fund the Project, EPM proposes to raise RM39.6 million through a private placement of 66.1 million new EPM Shares representing 30% of the existing issued share capital of EPM of which the Proposed Subscription forms part of it.

On completion of the Proposed Subscription, BAuto (via BCSB) will hold a 11.54% equity stake in the enlarged issued share capital of EPM.