BMS Holdings proposes 60:40 joint venture with Wee Tatt shareholders
BMS Holdings Bhd is proposing a 60:40 joint venture with the shareholders of Penang-based Wee Tatt Traders Sdn Bhd to expand its tile and building materials distribution network in the northern states. BMS will contribute RM3 million in cash for its 60 per cent stake, while the Wee Tatt shareholders will contribute RM2 million worth of inventory. The shareholders' agreement is to be signed within 30 working days.