BSL Corporation Berhad (KLSE:BSLCORP) entered into a Memorandum of Understanding to acquire an unknown stake in SD Unify Pte Ltd from Jerry Tan Gim Moh and Tan Hoon Bee on September 3, 2021. BSL Corporation Berhad entered into an agreement to acquire SD Unify Pte Ltd from Jerry Tan Gim Moh and Tan Hoon Bee for SGD 1.8 million on November 10, 2021. The proposed acquisition is expected to dovetail with BSL Corporation Berhad's last Friday announcement on the proposed private placement to enhance and expand the existing semiconductor manufacturing capacity.

The transaction would be financed by BSL Corp's internal cash and partly from the private placement of up to 58.8 million new BSL Corp shares. As of September 17, 2021, the transaction will be funded entirely from internally generated funds. The Memorandum of Understanding is for a period of three months and both parties are expected to sign a definitive agreement within that period.

The transaction is subject to:-(i) the approval of the Board of BSL Corporation, (ii) BSL Corporation being satisfied with the outcome of legal and financial due diligence, (iii) the execution of service agreement with the key management and personnel and (iv) waivers, consents or approvals as may be required from any third party or governmental, regulatory body or relevant authorities. The Board of Directors of BSL Corporation Berhad approved the transaction. BSL Corporation Berhad (KLSE:BSLCORP) completed the acquisition of 51% stake in SD Unify Pte Ltd from Jerry Tan Gim Moh and Tan Hoon Bee on June 28, 2022.