SINGAPORE - Catalist-listed Jubilee Industries Holdings has raised its stake in EG Industries with the acquisition of about 3.5 million shares for RM1.95 million (S$658,000) from the open market.

This lifts its stake from 11.72 per cent previously to 13.03 per cent.

Bursa Malaysia-listed EG is an electronic manufacturing services and vertical integration provider for brand-name electrical and electronic products across several industries.

Jubilee Industries' chairman, Terence Tea said: "Since our initial investment, EG has consistently achieved good financial performance and profitability. Being a key player in the downstream industry, we are pleased to acquire a higher stake in EG for the long-term prospects and growth of the group's electronics business unit and mechanical business unit in view of the improved global demand for electronic products."

Jubilee Industries provides electronics components, precision plastic injection moulding and mould design and fabrication services.