UMS Integration's stock price surged 8.00% during intraday trading on Tuesday. The precision engineering group's shares experienced significant upward momentum following a recent corporate development.

The sharp rise appears to be driven by the company's announcement that it has acquired the remaining 30% stake in Starke Singapore, a privately held aluminium alloy products supplier, for S$8.2 million. According to the company, this acquisition will allow UMS to streamline Starke's business operations with the group and better manage overhead costs.

The transaction will be funded by the group's internal resources and/or bank borrowings. Investors seem to be responding positively to this strategic move, which gives UMS full control of Starke Singapore and potentially enhances operational efficiency within the group.