NS Creative Sdn Bhd agreed to acquire Sin Wee Seng Industries Sdn. Bhd. from SWS Capital Berhad (KLSE:SWSCAP) for MYR 30.7 million on February 28, 2017. NS Creative will pay MYR 3.1 million as deposit and remaining MYR 27.7 million to be paid within 7 business days or such later date as may be mutually agreed by the parties, after the last of the conditions precedent has been fulfilled or waived. In related transactions, SWS Capital Berhad signed the share purchase agreement to acquire Ee-Lian Enterprise (M) Sdn. Bhd. from consortium of sellers for MYR 36.1 million and SWS Capital Berhad agreed to acquire remaining 29.4% stake in Poh Keong Industries Sdn. Bhd. from Gan Poh Keong and Lee Geok Kim for MYR 3.2 million. As of August 31, 2016, Sin Wee Seng Industries Sdn. Bhd. reported revenue of MYR 99.85 million, loss after tax of MYR 0.71 million and net assets of MYR 30.74 million. The transaction is subject to the approval by SWS Capital Berhad shareholders, approval by NS Creative shareholders, approval by governments, governmental, supranational or trade agencies and subject to the court approval. As of June 14, 2017, the shareholders of SWS Capital Berhad approved the transaction. Prior to completion, if any party has breached any term of the sale purchase agreement, then the non-defaulting party will inform the defaulting party of such non-compliance or breach and the non-defaulting party is entitled to terminate the agreement. The transaction is expected to complete by the third quarter of 2017. The proceeds from the transaction is expected to fund the acquisition of Ee-Lian Enterprise (M) Sdn. Bhd. M & A SECURITIES Sdn. Bhd. acted as financial advisor for SWS Capital Berhad.