A unknown buyer entered into a sale and purchase agreement to acquire 60% stake in Pt Technic Engineering Sdn. Bhd. from Hiap Seng Engineering Ltd (SGX:510) for MYR 8.4 million on March 16, 2015. Under the sale and purchase agreement, Hiap Seng Engineering Ltd. received a 20% of consideration and balance will be paid on completion. The transaction is expected to be completed by April 28, 2015. The transaction will bring gain of SGD 2.4 million (MYR 6.38 million) and net proceeds of SGD 3.2 million (MYR 8.5 million) from the transaction will be used for working capital of Hiap Seng Engineering Ltd. The conversion has been done through www.oanda.com as on March 16, 2015.

A unknown buyer completed the acquisition of 60% stake in Pt Technic Engineering Sdn. Bhd. from Hiap Seng Engineering Ltd (SGX:510) on March 30, 2015. An amount of SGD 0.79 million (MYR 0.3 million) of cash and cash equivalents of Pt Technic Engineering Sdn. Bhd. was disposed in the disposal. The conversion has been done through www.oanda.com as on March 16, 2015.