# Handal Energy to acquire 30% stake in Tenzin Heavy Machinery for RM8 million

Handal Energy Bhd agreed to acquire a 30% stake in crane and lifting solutions provider Tenzin Heavy Machinery (M) Sdn Bhd for RM8 million. The acquisition is expected to complete by July 2024.

- Type: Acquisition
- Announced: 2024-06-11
- Where: Malaysia
- Value: $1.70M (8.00M MYR)
- Status: announced
- Products: crane and lifting solutions
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Handal Energy Bhd](https://endata.com/companies/77973.md) (acquirer)
- [Tenzin Heavy Machinery (M) Sdn Bhd](https://endata.com/companies/77974.md) (target)

## Sources

- [thestar.com.my](https://www.thestar.com.my/business/business-news/2024/06/11/handal-acquires-crane-company-for-rm8mil), 2024-06-11: "The proposed acquisition is a strategic move by Handal, which would offer numerous benefits to the group’s existing business activities including aligned strategic direction, market expansion, operational efficiencies, access to resources, and improved financial performance."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.