Pintaras Jaya Berhad (KLSE:PTARAS) entered into a conditional share sale agreement to acquire PINTARY INTERNATIONAL PTE LTD. from Chiu Hong Keong and Khoo Yok Kee for SGD 5.6 million on August 3, 2018. Pintaras Jaya Berhad will acquire 4.3 million shares of PINTARY INTERNATIONAL and the consideration will be paid entirely in cash upon completion of the share sale agreement. The purchase consideration is expected to be satisfied entirely through internally generated funds. Post completion, PINTARY INTERNATIONAL will become a wholly-owned subsidiary of Pintaras Jaya Berhad and Pintary Foundation Pte Ltd and Pintary Geotechnics will become indirect subsidiaries of Pintaras Jaya Berhad. PINTARY INTERNATIONAL reported shareholder's fund of SGD 1.68 million for the period ending June 30, 2018. The deal is subject to approval from the shareholders of Pintaras Jaya Berhad. The deal is subject to due diligence. The deal is also subject to approval from Chiu Hong Keong and Khoo Yok Kee. The deal is subject to approvals, consents, authorizations, permits or waivers of any other relevant governmental or regulatory body and any other third parties. The deal is expected to be complete by third quarter of 2018. The acquisition is expected to contribute positively to the future earnings and EPS of the Pintaras Jaya Berhad group. UOB Kay Hian Securities (M) Sdn Bhd. acted as independent advisor for Pintaras Jaya Berhad in the transaction. Pintaras Jaya Berhad (KLSE:PTARAS) completed the acquisition of PINTARY INTERNATIONAL PTE LTD. from Chiu Hong Keong and Khoo Yok Kee on September 14, 2018.