KUALA LUMPUR – Malaysian contract manufacturer Ge-Shen has entered into an agreement to purchase 60% stakes each in Amity Research & Development and Amity Technical Services & Consultancy for RM13.5 million ($2.6 million).

Amity Research & Development is an engineering and consultancy services provider for the electronics industry, and Amity Technical Services & Consultancy is a manufacturer of PCBAs, box builds and cable and wire assembly.

Ge-Shen said it expects the transaction to close by the third quarter of 2024.

“This proposed acquisition will expand Ge-Shen’s scale of operations and facilitate the group’s presence in such a market. It is also in line with the group’s objective of acquiring strategic stakes in companies involved in high value-added industries with potential for future growth," the company said in an exchange filing.