KPower Berhad (KLSE:KPOWER) agreed to acquire 70% stake in GranuLab (M) Sdn. Bhd. from SIRIM Tech Venture Sdn Bhd for MYR 1 million on January 5, 2021. Under terms, upon execution of agreement KPower shall pay MYR 0.1 million as a deposit and 0.9 million payable on completion date. The transaction is subject to SIRIM Tech Venture Sdn Bhd obtaining approvals of its board of directors and shareholders, SIRIM Tech Venture Sdn Bhd procuring SIRIM to execute the relevant deed(s) of assignment for the transfer to Granulab of the intellectual property rights and result of the due diligence having been found satisfactory to KPower. The transaction shall be terminated upon SIRIM Tech Venture Sdn Bhd failing or refusing to observe or perform any of its obligations and failing or refusing to rectify the same within fourteen (14) business days after a written notice has been delivered by KPower and SIRIM Tech Venture Sdn Bhd becoming insolvent or bankrupt. KPower Berhad (KLSE:KPOWER) completed the acquisition of 70% stake in GranuLab (M) Sdn. Bhd. from SIRIM Tech Venture Sdn Bhd on April 2, 2021.