Industronics signs MoU with Hong Kong’s Bluemount to venture into fintech
Tan Siew Mung
/
theedgemarkets.com

March 23, 2021 14:30 pm +08
Industronics signs MoU with Hong Kong’s Bluemount to venture into fintech
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KUALA LUMPUR (March 23): Electronics company Industronics Bhd has entered into a non-binding memorandum of understanding (MoU) with Hong Kong's Bluemount Financial Group Ltd and its shareholder and director Li Hok Yin today to further discuss and negotiate the terms and conditions with regard to the proposed acquisition of Bluemount shares for the purpose of venturing into the financial services industry, specifically exploring the fintech industry.

Industronics said in a bourse filing that the MoU shall be valid and remain in effect for a period of one year from the date of the MoU.

According to Industronics, Bluemount was incorporated in Hong Kong in 2016 and is principally engaged in the business of financial services. It recorded a profit of HK$3.29 million on the back of HK$15.84 million revenue in its latest audited financial statements for the year ended March 31, 2020.