Sapura Industrial advancing RM58 mil to EV precision parts manufacturing JV
KUALA LUMPUR: Sapura Industrial Bhd (SIB) is advancing a substantial RM58.0 million financial assistance package to operationalize its 51 per cent-owned joint venture, SIB ZZT Sdn Bhd, as the automotive parts manufacturer diversifies into the precision energy component market.
Sapura Industrial Bhd (SIB) has pledged RM58.0 million in financial assistance to operationalize its 51% stake in the joint venture, SIB ZZT Sdn Bhd. The industrial components manufacturer is expanding into precision energy components for the electric vehicle (EV) market. This capital injection, coupled with the disposal of two parcels of leasehold industrial land in Bandar Baru Bangi, yields a net pro forma gain of RM29.14 million.
The funds will be utilized to modernize existing production lines and acquire replacement land in northern Selangor, thereby reducing customer lead times by up to 65%. SIB ZZT, a collaboration between SIB and Singapore-based Funa Micro Technology Pte Ltd (FMT), has constructed a RM54.1 million manufacturing plant in Gurun, Kedah.
The facility is expected to commence operations in the third quarter of 2026. The joint venture is set to produce 72,000 prismatic cell lids and cans daily, with an existing multi-year supply agreement with EVE Energy Malaysia Sdn Bhd through October 2030.
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