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Grand Venture Technology acquires third facility in Malaysia for $4.4 mil; set to gear up manufacturing capacity

Felicia Tan
Felicia Tan1/5/2022 07:46 PM GMT+08  • 2 min read
Grand Venture Technology acquires third facility in Malaysia for $4.4 mil; set to gear up manufacturing capacity
Shares in Grand Venture Technology closed flat at $1.19 on Jan 5.
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Homegrown precision manufacturing solutions provider Grand Venture Technology (GVT) has acquired another manufacturing facility in Penang for RM13.5 million ($4.4 million) on Jan 5, making this the third such acquisition in Malaysia in two years.

The latest acquisition comes as the company gears up to meet the anticipated growth in demand for its services from the semiconductor industry.

The two-storey facility measures 49,000 sq ft sits on a 74,000 sq ft plot of land at the Penang Science Park. It is located between two other facilities acquired by the company in February 2020 and March 2021 respectively. The latest acquisition is also just down the road from its factory in Malaysia.

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