StarHub Ltd (SGX:CC3) and Malaren International Sdn Bhd acquired 40% stake in JOS (SG) PTE. LTD. and JOS (MALAYSIA) SDN. BHD. for HKD 69 million on August 31, 2023. Post the completion of the transaction, JOS (SG) Pte. Ltd. will become a wholly-owned direct subsidiary of StarHub Ltd and JOS (Malaysia) Sdn. Bhd. will become a wholly owned subsidiary of Malaren International Sdn. Bhd. and wholly-owned indirect subsidiary of StarHub Ltd. The consideration was satisfied by StarHub using internal cash resources. JOS (SG) and JOS (MALAYSIA) reported net asset values of approximately HKD 26 million (approximately SGD 4.4 million) and approximately HKD 31.3 million (approximately CNY 28.4 million) respectively.

StarHub Ltd (SGX:CC3) and Malaren International Sdn Bhd completed the acquisition of 40% stake in JOS (SG) PTE. LTD. and JOS (MALAYSIA) SDN. BHD. for HKD 69 million on August 31, 2023.