Trend Navigator Sdn Bhd agreed to acquire MESB Capital & Development Sdn Bhd from MESB Berhad (KLSE:MESB) for MYR 3 million on September 22, 2022. The Purchase Consideration shall be fully satisfied by way of cash as well as internally generated funds and/or bank borrowings. In a related transaction, Trend Navigator Sdn Bhd agreed to acquire Active Fit Sdn Bhd and 45% stake in Miroza Leather (M) Sdn Bhd.

Transaction is subject to Shareholders as well as board approval of MESB Berhad and Trend Navigator Sdn Bhd and from governmental or regulatory body. KAF Investment Bank Berhad and Malacca Securities Sdn Bhd acted as financial advisor to KAF Investment Bank Berhad. As on March 15, 2023, KAF IB wishes to announce that the Trend Navigator Sdn Bhd and MESB Berhad (KLSE:MESB) extend the Disposal share sale agreement First Conditional Period and Acquisition share sale agreement Conditional Period from 21 March 2023 to 30 June 2023 respectively.