Ace Empire Development Sdn. Bhd. entered into a share sale agreement to acquire the remaining 30% stake in Ace Empire Capital Sdn. Bhd. from Sinjia Land Limited (Catalist:5HH) for MYR 2.6 million on November 5, 2018. The consideration will be paid in cash and includes a non-interest bearing shareholder’s loan of MYR 2.4 million which Ace Empire Development Sdn. Bhd. agreed to repay, on behalf of Ace Empire Capital Sdn. Bhd. As per terms, 0.15 million shares of Ace Empire Capital Sdn. Bhd. will be acquired. Following completion of the acquisition, Ace Empire Development Sdn. Bhd.'s stake in Ace Empire Capital Sdn. Bhd. will increase from 70% to 100% and Sinjia Land Limited will cease to have any interest in Ace Empire Capital Sdn. Bhd. In a related transaction, Sinjia Land Limited’s wholly owned subsidiary Sinjia Properties Sdn Bhd entered into two sale and purchase agreements to acquire Plot 8 @ Empire Square and Plot 9 @ Empire Square from Liangsiang Development Sdn. Bhd. for MYR 2.7 million to be partially satisfied by payment of MYR 2.6 million from Ace Empire Development Sdn. Bhd. being the consideration and the refund of the shareholder’s loan with respect to acquisition of Ace Empire Capital Sdn. Bhd. Ace Empire Capital Sdn. Bhd. will cease to be an associated company of Sinjia Land Limited upon completion. The transaction is expected to be completed in FY2019. The transaction is not expected to have any material impact on the NTA per share or earnings per share of Sinjia Land Limited for financial year 2018. Ace Empire Development Sdn. Bhd. completed the acquisition of the remaining 30% stake in Ace Empire Capital Sdn. Bhd. from Sinjia Land Limited (Catalist:5HH) on September 3, 2020.