In a filing with Bursa Malaysia today, Opcom said it will hold a 49% stake in TVSB following the completion of the acquisition.

The transaction will fulfil Opcom’s intention to expand its activities to include power generation and transmission, as well as related power businesses.

Opcom and its subsidiaries are principally involved in the manufacture of fibre optic cables and cable-related products, as well as telecommunication network infrastructure solutions.

TVSB and its subsidiaries are involved in the engineering, procurement, construction and commissioning (EPCC) of power transmission and related power businesses.

After the acquisition, TVSB will become an Opcom associate company, expanding Opcom’s scope to include power generation and transmission operations within its activities.

The operations include EPCC, distribution substation infrastructure, project management, engineering consultancy of power transmission, and trading of biomass-related products, the filing said.

Opcom’s board of directors said the power infrastructure market has strong growth prospects given its favourable outlook.

It added that the proposed acquisition is “a good opportunity” for it to tap into the growing power infrastructure market.

Barring any unforeseen circumstances and subject to approvals, the proposal is expected to be completed in the fourth quarter of 2023.

As at 3.04pm, Opcom’s share price slipped 2 sen or 2.52% to 77.5 sen, giving it a market capitalisation of RM295.71 million.