Master Tec Group Bhd has completed Sediacom Sdn Bhd's share subscription for a total cash consideration of RM3.74 million.

The group had subscribed 1.04 million new ordinary shares in Sediacom, representing a 51% equity interest. The subscription was fully funded through Master Tec's internally generated funds.

Master Tec's acquisition of Sediacom aligns with the group's broader strategy to expand its service offerings and revenue base as Sediacom brings with it specialised expertise and experience in areas such as drilling and underground cable laying, overhead lines installation, road safety management, back reaming pulling high-density polyethene pipes and freight transport by road.

The acquisition of Sediacom is primarily aimed at enhancing Master Tec's service offerings to create a synergistic effect and expand its market share.

Master Tec Chief Executive Officer Tee Kok Hwa said by leveraging Sediacom's established presence and stable financial performance, Master Tec is able to expand its orderbook, secure larger projects and create a more competitive business platform, supporting sustainable long-term growth.

As of 5pm today, Master Tec's share price closed at RM1.120, reflecting a market capitalisation of RM1.14 billion.