KUALA LUMPUR (April 12): Ta Win Holdings Bhd rose 7.62% this morning on the back of its plan to set up cable manufacturing business.

At 9.10am, Ta Win rose 4 sen to 56.5 sen with 420,700 shares traded.

Ta Win is teaming up with Justin Wong Chee Feeng, Wong Ah Piaw and Latitude Technology Sdn Bhd to set up a new cable manufacturing business using electron beam technology in Malaysia.

The new business is concerned with producing and commercialising irradiation cross-linked wire and cable products, which are seen to support local automotive and home appliance sector original equipment manufacturers.

It has also with its other JV partners set up a firm that will invest in, set up and operate the new business. Ta Win said it will maintain an 80% stake in the new firm, with Justin and Ah Piaw holding 10% interest and Latitude Technology, the balance 10%.