JayCorp up 1.55% on plan to partner HK firm to make kitchen and bathroom furniture

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KUALA LUMPUR (July 15):  JayCorp Bhd shares rose 1.55% this morning after the firm said it is partnering Hongkong-based Honsoar International Ltd (HIL) to manufacture and sell kitchen cabinets and bathroom vanity cabinets.

At 9.10am, JayCorp added 1.5 sen to 98.5 sen for a market capitalisation of RM135.19 million.

The two companies signed an agreement yesterday to form a joint venture, Honsoar Cabinetry Sdn Bhd, to undertake the business, it said.

JayCorp will have a 60% equity interest in Honsoar Cabinetry, with HIL holding the remaining 40%. The joint venture is anticipated to commence business by the second quarter of the financial year ending July 31, 2020.