Privasia Technology Berhad (KLSE:PRIVA) agreed to acquire 51% stake in Djava Factory Sdn. Bhd. from DSS Capital Sdn.

Bhd., Teh Chee Hoe and Allan Kenneth Ang for MYR 1.1 million on March 13, 2024. The consideration consists of MYR 1.10 million in cash. As part of the consideration, MYR 1.10 million was paid towards common equity.

A sum of MYR 0.7 million will be paid upon the registration of the transfer of shares from DSS Capital Sdn. Bhd., Teh Chee Hoe and Allan Kenneth Ang to Privasia. The balance of MYR 0.3 million shall be paid in two instalments of 15% each upon the delivery of the projected profits as per the TSA and the amendment of DJF?s Constitution incorporating the principals and salient terms and conditions of the TSA.