KUALA LUMPUR, MALAYSIA – Media OutReach – 21 October 2022 – Bursa Malaysia Fundamental Market listed firm Industronics Berhad (“Industronics” or “Group”)’s Government Director, Datuk Chu Boon Tiong, has acquired round 10% stake in Hong Kong-based famend stockbroking, asset administration and credit score agency, Bluemount Monetary Group Restricted (“Bluemount” or “firm”), in his private capability.

The funding coincides with Industronics’ curiosity in buying 10% stake in Bluemount, which was introduced final yr. The acquisition was delayed because of the rights points for the acquisition. Shareholders have permitted the acquisition of as much as 10% share in Bluemount.

One other funding holding firm, Tesla Expertise Holdings Restricted (“Tesla Expertise”), has acquired a 26.08% stake in Bluemount. The acquisition comes with the situation that the corporate submit the appliance for itemizing on the London Inventory Trade’s Fundamental Market by the tip of this yr.

Tesla Expertise is registered at Cyberport, an progressive digital group in Hong Kong with over 1,800 start-ups and expertise corporations. It’s established because the hub for digital expertise, targeted on facilitating the expansion of main expertise traits, together with fintech.

Industronics Berhad Government Director Datuk Chu Boon Tiong, mentioned, “That is an huge alternative to put money into a profitable monetary providers firm reminiscent of Bluemount. Along with Cyberpot Tesla, I’m excited that the corporate will push ahead to be a world participant within the trade with the funds raised from its potential itemizing on the London Inventory Trade’s Fundamental Market by the tip of this yr.”

Bluemount is eyeing the 1.5 billion inhabitants in Mainland China and can develop into the Europe market to faucet into the potential of its 3.0 billion inhabitants. That is a part of Bluemounts’ initiative to develop to turn into a world firm because it faucets into the chance outdoors of Asia.

Other than that, there will even be some structural adjustments throughout the administration of Bluemount as Datuk Chu will be part of as one of many Board of Administrators to spearhead the corporate’s enlargement in Southeast Asia (“SEA”). Growth within the SEA area will concentrate on providing providers reminiscent of asset administration, fund administration, preliminary public itemizing (“IPO”) and others.

“Growth into Europe supplies a chance for Bluemount to faucet into the developed markets and supply cross-border alternatives for its purchasers globally. The itemizing submission to the London Inventory Trade’s Fundamental Market by the tip of this yr will present Bluemount with the chance to put money into its progress methods,” Datuk Chu mentioned.

Bluemount is a famend stockbroking, asset administration and credit score agency primarily based in Hong Kong that’s valued at HKD250 million. It’s effectively funded with considerable capital, aware of the operation of markets and has rigorous inside management methods, which have led to a revenue of HKD10 million and HKD20 million in 2020 and 2021, respectively, regardless of the COVID-19 pandemic disruption.

Bluemount’s wholly-owned securities brokerage arm, Bluemount Securities Ltd (“BSL”) is an trade participant of the Inventory Trade of Hong Kong Ltd and licensed by the Securities and Futures Fee of Hong Kong (“SFC”) to hold out Kind 1 (Dealing in Securities) and Kind 4 (Advising on Securities) regulated actions.

In the meantime, Bluemount’s wholly-owned asset administration subsidiary, Bluemount Asset Administration Ltd (“BAML”) is licensed by SFC to hold out Kind 9 (Asset Administration) regulated exercise. BAML supplies portfolio and funding administration providers to skilled traders.

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About Industronics Berhad

Industronics Berhad is a longtime electronics firm well-known in Malaysia and internationally and the Group is engaged within the design, manufacturing and set up of electronics and microprocessor-controlled merchandise, telecommunication system, audio video multimedia methods, clever transportation methods and knowledge communication expertise associated system.

Industronics has three subsidiaries and related corporations that are Industronics AV/ITS/Communications Division, which specialises within the provision and system intergration of assorted methods together with Audio Visible Programs, Clever Transport Programs (ITS), Conferencing Programs, Projectors and different Multimedia merchandise, the Division additionally provides and installs numerous digital communication tools;

Industronics Manufacturing Sdn Bhd, which supplies full amenities and manpower to Digital Manufacturing Companies (EMS) protecting design providers, sub meeting providers, ultimate meeting providers, testing providers and packaging and supply providers;

and Ademco (M) Sdn Bhd, which supplies merchandise and system options for professionally designed safety alarm and fireplace safety methods for industrial, business, authorities and residential complexes.