Jubilee Industries acquires Honfoong Plastics for $3.5 mil

SINGAPORE (Dec 13): Jubilee Industries, the provider of electronics components and plastic injection moulds, is acquiring Honfoong Plastics industries for $3.5 million, to broaden the group's revenue stream.

Incorporated in Singapore, Honfoong Plastics is engaged in the manufacture of plastic moulding, PCB assembly, tooling finishing and plastic precision engineering parts.

For the period from Jan 1 to Sept 30, Honfoong Plastics' net tangible asset was $2.38 million and it recorded a net profit before tax of $1.04 million.

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