Shares of Hong Leong Asia (H22.SI) soared 7.57% during Wednesday's trading session following the company's announcement of a significant strategic acquisition.
The powertrain solutions provider completed the acquisition of Yong Tai Loong for SG$90.7 million, according to a filing with the Singapore Exchange. Yong Tai is a provider of blast-resistant products, and the acquisition represents a strategic move to expand Hong Leong Asia's portfolio and product offerings.
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