KUALA LUMPUR: Shenzhen-listed Ninestar Corp’s wholly-owned Static Control Holdings Ltd (SCC) has emerged as a strategic investor in Malaysia’s Jadi Imaging Holdings Bhd.
Ninestar owns Lexmark, a globally renowned printer brand, and Pantum, a leading printer brand in China.
Jadi said SCC had taken up a strategic stake and emerged as a substantial shareholder, with a 9.09 per cent stake in the company and will have a board representation.
Subscription agreement and supply agreement had been signed by the two parties for the share purchase and business collaboration.
Under the supply agreement, Jadi said SCC was committed to buying chemical toners formulated and manufactured by it for three years from April 2020.
The agreement also entails supply opportunities of conventional toners for Jadi to Ninestar and its subsidiaries including SCC.
“This provides a platform for both parties to leverage on each other’s technical knowledge, expertise and experience for expansion and growth in the key areas,” Jadi said in a statement.
“We are confident that the investment from this strategic collaboration will provide opportunities to diversify into many exciting new areas, in particular, the possibilities of cooperating further in OEM contracts and developing new business streams with less competition and higher profit margin,” it said.
Jadi also expects the partnership to provide early access to new cartridge configurations in the aftermarket industry, further enhancing its research and development in formulating and developing high quality conventional and chemical toners that match the global leader’s product and market requirements.