Serrano Limited (Catalist:40R) agreed to acquire the remaining 49% stake in Sinbor Company (Private) Limited from Winmark Investments Pte Ltd, Quek Meng Liat and Quek Wey Lon on December 31, 2019. The agreement resulted from the exercise of a call option agreement by Serrano. The consideration will be determined by an independent valuer to be mutually agreed by the Company and the Other Shareholders of Sinbor. The transaction is conditional upon approval from Serrano's shareholders, approval from the board of directors of Serrano at the Consideration and approval by the board of Sinbor. Serrano Limited (Catalist:40R) cancelled the acquisition of 49% stake in Sinbor Company (Private) Limited from Winmark Investments Pte Ltd, Quek Meng Liat and Quek Wey Lon on December 31, 2020.