SINGAPORE (Jan 16): UMS Holdings, the precision engineering company, today announced that it has acquired a 7.48% stake or 109 million ordinary shares in JEP Holding for $5.7 million.

The shares were acquired through the open market.

The group satisfied the consideration in cash, funded through internal resources.

Shares in UMS Holdings closed flat at $1.04 on Tuesday, while shares in JEP Holdings closed 0.1 cent lower at 6 cents.