Amplefield (SGX:AOF) has gained control of over 59.99% of CAM Connectivity Phils through a shareholder agreement with CMB Mechatronics, a filing with the Singapore Exchange said on Monday.
This acquisition gives Amplefield the authority to appoint a management team and make key decisions regarding CAM's operations.
CAM Connectivity Phils is a significant player in the Philippine Economic Zone, operating an advanced plant and equipment facility through its subsidiaries, CAM Precision Technology and Ampsolar.
Amplefield's shares were down 5% in recent trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.