Lee Aik Chong entered into a sale and purchase agreement to acquire 100% stake in 33 Sentral Park Sdn. Bhd from Magna Prima Berhad (KLSE:MAGNA) for MYR 65 million on August 4, 2023. Magna Prima Berhad (KLSE:MAGNA) will acquire 2.6 million shares of 33 Sentral Park Sdn. Bhd. 33 Sentral Park Sdn. Of the total consideration, MYR 15 million shall be payable towards the loan amount for Crossborder Team (M) Sdn Bhd. 33 Sentral Park reported a Total Common equity of MYR 65 million in December 31, 2022. There is no condition precedent to be fulfilled under the agreement. Similarly, no termination and penalty clauses has been inserted to the agreement. The transaction is expected to complete on November 3, 2023. The Group plans to utilize the proceeds as working capital to settle some outstanding claims due to various consultants as well as entering into agreement to buy out minority interest in one of its subsidiaries.

Lee Aik Chong completed the acquisition of 33 Sentral Park Sdn. Bhd from Magna Prima Berhad (KLSE:MAGNA) in the financial year September 30, 2023.