Sand Nisko Capital Berhad (KLSE:SNC) entered into a Shares Sale Agreement to acquire Perumahan Tasik Idaman Sdn. Bhd. from Teo Ching Hwe for MYR 1.5 million on February 17, 2023. The Purchase Consideration will be fully satisfied in cash via a combination of internally generated fund and/or borrowings. The SSA shall be conditional upon the following being fulfilled within 60 days from the date of the SSA the financial and legal due diligence on PTISB and the Due Diligence Exercise shall be completed by the Purchaser at least 7 days prior to the Cut-Off Date, any consents, approvals or waivers from the relevant authorities or third parties, if so required, for the transfer of the Sale Shares. As such, the Proposed Acquisition does not require the approval of shareholders of SNC or any relevant authorities. The completion of the SSA shall be taken place within 14 days from the Unconditional Date. The SSA shall continue and remain in full force and effect unless terminated pursuant to the provisions of the SSA. Barring any unforeseen circumstances, the Proposed Acquisition is expected to be completed in the 2nd quarter of year 2023 subject to the terms and conditions of the SSA.

Sand Nisko Capital Berhad (KLSE:SNC) completed the acquisition of Perumahan Tasik Idaman Sdn. Bhd. from Teo Ching Hwe for MYR 1.5 million on April 11, 2023.