Fan Chee Seng entered into sale and purchase agreement to acquire DLF Engineering Pte Ltd from OIO Holdings Limited for SGD 0.005 million.

Fan Chee Seng entered into sale and purchase agreement to acquire DLF Engineering Pte Ltd from OIO Holdings Limited (Catalist:KUX) for SGD 0.005 million on August 1, 2022. the buyer will acquire 80,000 issued ordinary shares in the share capital of DLF Engineering Pte. Ltd. As of March 31, 2022.

DLF Engineering Pte Ltd reported a Net loss of SGD -0.097877 million and total common equity of SGD 0.584501 million.The group intends to apply the sale proceeds towards the professional fees incurred for the proposed divestment.The transaction is expected to Close on August 12, 2022.