Wong Chon Chong acquired Asia Entertainment Limited from Asia Fashion Holdings Limited (SGX:BQI) for HKD 1.5 million on September 28, 2018. The consideration was paid in cash. Under the terms of the acquisition, 0.05 million shares of Asia Entertainment Limited were sold. Wong Chon Chong irrevocably and unconditionally fully and forever released and discharged Asia Fashion Holdings Limited from liabilities of Asia Entertainment Limited and its subsidiaries including but not limited to any liabilities in respect of an unsecured interest-free working capital loan of HKD 1.5 million provided by Wong Chon Chong to Asia Entertainment (Hong Kong) Limited, a subsidiary of Asia Entertainment Limited, on October 31, 2016 which was due and repayable on April 30, 2018. Upon completion, Asia Entertainment Limited ceased to be a subsidiary of Asia Fashion Holdings Limited. As of June 30, 2018, Asia Entertainment Limited reported net liabilities of CNY 0.5 million (HKD 0.6 million). The transaction is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of Asia Fashion Holdings Limited for the current financial year. Wong Chon Chong completed the acquisition of Asia Entertainment Limited from Asia Fashion Holdings Limited (SGX:BQI) on September 28, 2018.