PRESS RELEASE
1st July 2023
Announcement - Completion of Acquisition Share in Thunder Match Technology Sdn Bhd by Nojima APAC Limited.
Nojima APAC Limited ("Nojima APAC"), a foreign subsidiary of Nojima Corporation, has entered into a sales and purchase agreement with Endless Momentum Sdn Bhd on February 21, 2023, in a move to acquire 100% ownership of Thunder Match Technology Sdn Bhd ("TMT"). The proposed transaction has successfully reached to the completion on July 1, 2023. This acquisition represents a strategic move to expand our capabilities, strengthen our market position, and drive further innovation.
TMT, established in 1997, is renowned as the leading Tech Retailer in Malaysia. Offering a wide range of information and communication products, including personal computers, mobile phones, lifestyle accessories, and IOT-related products, TMT has established its presence with 50 stores across the country. With Malaysia's projected real GDP growth rate of 3-5%, TMT is well-positioned to achieve substantial growth within the country's thriving business landscape.
Nojima Corporation acquired Nojima APAC (formerly known as Courts Asia Limited), prominent electronics, electrical, and furniture retailer in Singapore, in 2019. Since then, the company has been steadily expanding its operations in the Malaysian market through its subsidiary, COURTS (Malaysia) Sdn Bhd. By acquiring TMT, Nojima APAC will not only benefit from TMT's extensive store network throughout Malaysia but also create a mutually beneficial synergy between COURTS (Malaysia) Sdn Bhd and TMT, greatly enhancing the customer experience.
This strategic acquisition will bolster the financial strength of the Nojima Group of Companies, resulting in a stronger market position and an improved retail experience for customers. Moreover, the combined impact of this collaboration is expected to attract a larger customer base, further solidifying the Group's market presence.
Mr. Adrian Yu
Managing Director
Thunder Match Technology Sdn. Bhd.
