Insas Technology Berhad agreed to acquire QBI Packaging Sdn Bhd from Diversified Gateway Solutions Berhad (KLSE:DGSB) for MYR 3.43 million on January 4, 2022. Consideration will be satisfied with cash. For the year ended June 30, 2021, QBI Packaging Sdn Bhd reported revenue of MYR 3.999 million, EBIT of MYR -0.206 million, and net income of MYR -0.270 million. Transaction is subject to approval of DSGB shareholders approval, due diligence consummation, and is expected to be completed by the first Quarter of 2022. The company intends to utilize the disposal consideration to partly satisfy the DGSB proposed acquisitions. As of March 31, 2022. The shareholders of DGSB have approved the Transaction. The transaction is expected to completed with in 14 days. M&A Securities Sdn. Bhd. acted as financial advisor for Diversified Gateway Solutions Berhad.

Insas Technology Berhad completed the acquisition of QBI Packaging Sdn Bhd from Diversified Gateway Solutions Berhad (KLSE:DGSB) on April 14, 2022.