Kuala Lumpur, 10 September 2025 – In a strategic move poised to deepen its foothold in the automotive components sector, Oceancash Pacific Berhad (OPB) has entered into a conditional share sale agreement with Paragon Union Berhad to acquire 100% of Paragon Car Carpets & Components Sdn Bhd (PCCCSB) for RM13.42 million. The announcement, disclosed in a Bursa Malaysia filing, marks a significant step in OPB’s expansion strategy within its core nonwoven and felts business lines.
Through the agreement, OPB will acquire 22.75 million ordinary shares in PCCCSB via a full cash settlement. Once completed, PCCCSB will become a wholly-owned subsidiary of Oceancash Pacific, a transition expected to provide the group with immediate access to automotive vehicle manufacturers—PCCCSB’s established clientele—strengthening OPB’s downstream integration within the automotive supply chain.
Oceancash Pacific is positioning this acquisition as a strategic leap forward in expanding its customer base and intensifying synergies between its existing felt and nonwoven manufacturing capabilities and PCCCSB’s specialized niche in car carpet components. The integration is expected to unlock opportunities for cross-selling and enable the combined enterprise to compete more effectively in the automotive parts and components market. Importantly, the acquisition will not dilute OPB’s share capital, nor will it affect the shareholding stakes of substantial shareholders, as no new shares will be issued.
The transaction mirrors broader efforts by regional manufacturing firms to consolidate capabilities and ensure direct access to downstream markets—a trend gaining traction amid changing demand patterns within the global automotive ecosystem. For Oceancash, the acquisition signifies more than just added capacity; it represents a strategic pivot toward enhanced value capture and long-term sustainability in its automotive materials segment.
