Dato' Leow Soo Tat signed an agreement to acquire 75% stake in Starix Collection Sdn. Bhd. from Yen Global Berhad (KLSE:YEN) for MYR 0.3 million in cash on December 23, 2014. Dato' Leow will acquire 0.75 million Starix shares at MYR 0.4 per share. Dato' Leow will pay MYR 0.06 million as a deposit and shall pay the balance of the consideration of MYR 0.24 million in 8 monthly installments worth MYR 0.03 million each starting from February 28, 2015. Upon the completion of the disposal, Starix will cease to be a subsidiary of Yen Global. Barring any unforeseen circumstances, the disposal is expected to be completed upon the following, (a) the transfer of the said shares, (b) the payment of the deposit and all the installments, and upon the terms of the agreement. The proceeds shall be used as working capital. The disposal will not have any effect on the issued and paid-up share capital as well as the substantial shareholders' shareholdings, earnings per share, net assets per share and gearing of Yen for the financial year ending July 31, 2015. On Group level, the disposal will not have any financial impact on Yen Global's results. However the disposal of Starix Collection will benefit Yen Global in future years. Yen Global will incur a net loss on disposal of MYR 8.66 million.

Dato' Leow Soo Tat completed the acquisition of 75% stake in Starix Collection Sdn. Bhd. from Yen Global Berhad (KLSE:YEN) in the quarter ended January 31, 2015.