S H Cogent Logistics Pte. Ltd. agreed to acquire 17.56% stake in Guper Integrated Logistics, 20% stake in Gems Logistics, 20% stake in Dolphin Shipping Agency and 20% stake in East West Freight Services Sdn. on July 29, 2022. HexTech to sell to SH Cogent the following shares (a) 526,800 issued and paid-up ordinary shares in GIL, representing 17.56% of the entire issued and paid-up share capital of GIL; (b) 20,000 issued and paid-up ordinary shares in Gems, representing 20% of the entire issued and paid-up share capital of Gems; and (c) 200 issued and paid-up ordinary shares in DSA, representing 20% of the entire issued and paid-up share capital of DSA, and buy-out notice issued to Dolphin Assets Sdn Bhd and Chandra Sekaran A/L Subrayan (collectively, the ôEWF Vendorsö) to require the EWF Vendors to sell to SH Cogent 200,000 issued and paid-up ordinary shares in EWF, representing 20% of the entire issued and paid
up share capital of EWF. On September 1, 2022, The Board of Directors of HexTech announced that the total exit price for the disposal of 526,800 ordinary shares in GIL, 20,000 ordinary shares in GEMS and 200 ordinary shares in DSA to SH COGENT has been determined at RM 22.9 million. The transaction is expected to complete on September 12, 2022.