Pursuant to Paragraph 10.05 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of the Company wishes to announce that FMGLV, an indirect wholly-owned subsidiary of the Company has on 4 October 2021 entered into a Stock Purchase Agreement with several independent third parties to acquire the entire issued and outstanding shares of capital stock of Inter-Orient Services, Inter-Orient Corporation and Noble Shipping Corporation, for a total cash consideration of USD2,200,000 (equivalent to approximately RM9,196,000 based on the exchange rate of USD1:RM4.18 as at 4 October 2021), subject to the terms and conditions as stipulated in the SPA (the "Acquisition").
Details of the Acquisition are set out in the attachment below.
This announcement is dated 4 October 2021.