BSL seals the deal for new international procurement office
To kickstart company growth and aid in the expansion of its market reach, BSL Corp Bhd has signed a memorandum of understanding with Singapore-based SD Unify Pte Ltd to acquire its international procurement office.
BSL is looking to place its bid as a worldwide player in the semiconductor sector, viewing its latest asset as the means to gaining a wider global market reach. Its new international procurement office, in theory, will allow BSL to make use of the centre’s intercontinental supply chain and semiconductor equipment manufacturer connection capabilities. As a result, the company looks set for growth in customer demand and, subsequently, an increase in worldwide contracts being sealed.
BSL procures means for increased international market reach
“Given the current market demand, the proposed acquisition of SD Unify is timely for BSL Corp to extend its market reach in the semiconductor sector,” says Brian Hoo Wai Keong, Executive Director at BSL.
According to Keong, the company’s acquisition comes as part of its strategy to revamp its focus on expansion and innovation, refocusing its semiconductor goals and increasing its exposure to the industry. The signing signals the start of its renewed efforts for growth, and the company’s new office aligns nicely with its ongoing operations, aiding BSL’s shift to providing electronic manufacturing services.
Company strategy to prove financially beneficial for business
In an effort to establish itself as a global competitor and further its semiconductor manufacturing business endeavours, BSL revealed it was planning a private placement to enhance its corporate capabilities. Last week, the company hinted at a share split of one existing share into two shares to tail behind a 30% private placement of the share capital base offered to a number of independent third-party investors. Additionally, the company also threw in a free warrant for every two shares held post-share split and private placement.
This strategy seems likely to prove financially beneficial for BSL. It’s predicted that a welcome RM30mn will be generated as a result of the private placement, RM24mn of which will be used to expand its global market reach and enhance its procurement processes.