News

Pursuant to paragraph 10.06 (1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of the Company wishes to announce that EFTG, a wholly-owned subsidiary of the Company had performed the following acquisitions with Hung Vuong Tay Nam Panga Feed Joint Stock Company:-

1. on 28 February 2020, entered into Sale and Purchase Agreements (“SPAs”), also known as “Contracts For Transfer Of Land Use Right And Assets Attached To The Land” for the acquisition of a feedmill factory identified as Hung Vuong Tay Nam Aqua Factory for a total purchase consideration of approximately RM41,532,038 (“Feedmill Factory Acquisition”);
2. on 28 February 2020, entered into SPAs also known as “Contract For Purchase Of Car” for the acquisition of motor vehicles for a purchase consideration of approximately RM403,540 (“Motor Vehicle Acquisition”);
3. on 9 March 2020, entered into SPAs also known as “Contract For Purchase of Forklift, Damper and Dumber Excavator” for the acquisition of machineries for a purchase consideration of approximately RM539,118 (“Machineries Acquisition”); and
4. on 9 March 2020, entered into SPAs also known as “Contract For Purchases of Plant and Equipment” for the acquisition of machineries & equipment for a purchase consideration of approximately RM24,555,999 (“Plant & Equipment Acquisition”).

Please refer to the attachment for further details.
This announcement is dated 9 March 2020.