RI businessman to buy Vikay

RI businessman to buy Vikay

SINGAPORE (AFX-ASIA): Indonesian timber businessman Kea Kah Kim plans to buy an 80 percent stake in liquid crystal display maker Vikay Industrial Ltd, which has been under judicial management since December 1997, the Straits Times quoted Kea as saying.

"I believe that Vikay's core business of electronic original equipment manufacturing can be highly visible, with good potential for strong growth in the future," Kea said.

Kea, who will be using his special purpose vehicle E-Path Developments for the acquisition, said an application to lift the trading suspension of Vikay on the Singapore Exchange will be made once a due diligence audit on Vikay has been completed.