Serba Dinamik co-founder Awang Daud buys 26.98% stake in i-Stone

by SHAHEERA AZNAM SHAH / pic credit:

Serba Dinamik Holdings Bhd co-founder Datuk Awang Daud Awang Putera (picture) has acquired a 26.98% stake or 329.61 million shares in i-Stone Group Bhd, making him a substantial shareholder of the manufacturing automation solutions firm.

Awang Daud, who is also executive chairman of Minetech Resources Bhd, bought the stake from One United Equity Sdn Bhd.

He is also chairman of ADAP4orty Global Sdn Bhd, a privately-held group involved in quarrying, retail, food and beverage, oil and gas (O&G), technology and realty.

“Investing into i-Stone is a long-term business strategy to leverage on the technologies of Industry 4.0 such as automation and big data with new inroads to be made through jointly marketing its products not just among larger companies but also mid-sized ones,” Awang Daud said in a statement yesterday.

i-Stone MD Rebecca Tee said the group also sees opportunities through tie-ups and joint-ventures with Awang Daud, who is a non-independent non-executive director of Serba Dinamik, an engineering solutions firm.

Following the stake purchase, One Equity ceased to be a substantial shareholder in i-Stone.

In a separate statement, i-Stone said its fully-held unit, i-Stone Systems Sdn Bhd has joined the Siemens Digital Industries Software Solution Provider Partner Programme, making it a distributor of Opcenter™ software, Siemens’ holistic manufacturing Poperations management (MOM) solution, and VALOR™ software and hardware.