Hup Soon Global Corporation, the distributor of automotive/industrial consumerables, says its general offer for the shares of Tai Kwong Yokohama Berhad (TKY) has become unconditional with TKY set to become its subsidiary.

As at 5 p.m. today, Hup Soon says it has received acceptances of 5,773,388 shares, bringing its ownership of the voting shares of TKY to 59.12%. The offer is now set to close at 5 p.m. 7 April, 2010.

Established in 1967 and listed on Bursa Malaysia since 1995, the TKY group manufactures and distributes automotive and motorcycle batteries.

The company has a production capacity of 160,000 automotive batteries and 120,000 motorcycle batteries per month as well as a lead recycling plant that can produce 750 tonnes of lead monthly.

The company serves both the replacement and OEM markets and its Yokohama brand of batteries is considered a premium brand in the Malaysian market. The company also exports its batteries to various countries.