Innovamem, an investment holding company, was founded by the membrane veteran, Ge Hailin and his daughter, Ge Weizheng. The group says Ge has invented the next generation of membrane products, “known for their superior properties and cost-effectiveness”.
The group expects the joint venture to benefit from an optimised cost structure, which would reduce costs of production in China and Singapore. The group adds that the fliexbility in production costs will “enable NTi Technology to adapt to market conditions and enhance its competitive position”.
The group’s investment in NTi Technology is set to be funded using the proceeds from the convertible bonds.
The joint venture is not expected to have any material impact on the earnings and net tangible assets per share of the group for the current financial year ending Dec 31.
See also: Sembcorp signs JV agreement with BPCL for green hydrogen transition and renewable energy in India
Shares in Leader Environmental Technologies closed flat at 5 cents on Oct 28.
