SWS Capital Berhad (KLSE:SWSCAP) 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 on February 28, 2017. SWS Capital Berhad will pay the consideration in cash. SWS Capital Berhad will acquire 0.55 million shares of Poh Keong Industries Sdn. Bhd. Gan Poh Keong will sell 0.32 million shares for MYR 1.89 million and Lee Geok Kim will sell 0.23 million shares for MYR 1.35 million. Under the terms of transaction, SWS Capital Berhad will pay 10% of the consideration amount upon signing of the agreement and the remaining consideration will be paid within seven 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. SWS Capital Berhad will not be assuming any liabilities. In a related transaction, SWS Capital signed a share purchase agreement to acquire Ee-Lian Enterprise (M) Sdn. Bhd. from consortium of sellers for MYR 36.1 million and SWS Capital agreed to sell Sin Wee Seng Industries Sdn. Bhd. to NS Creative for MYR 30.7 million. The consideration for the transaction will be funded from internally generated funds of SWS Capital. After the transaction, Poh Keong Industries will become wholly owned subsidiary of SWS Capital. Poh Keong Industries Sdn. Bhd reported revenues of MYR 23.6 million, profit after tax of MYR 3.06 million and shareholders’ funds of MYR 6.3 million as at August 31, 2016. The transaction is subject to approval from regulatory bodies, court approval and approval from shareholder of SWS Capital in a meeting scheduled on June 14, 2017. On May 12, 2017, the transaction was recommended by the Board of Directors of SWS Capital Berhad. On June 14, 2017, the transaction was approved by the shareholders of SWS Capital Berhad. The transaction is expected to complete by third quarter of 2017. The transaction is expected to have no effect on share capital and substantial shareholdings' in SWS Capital Berhad, earnings accretive for SWS Capital Berhad. M & A SECURITIES Sdn. Bhd. acted as financial advisor to SWS Capital Berhad. SWS Capital Berhad (KLSE:SWSCAP) completed the acquisition of 29.4% stake in Poh Keong Industries Sdn. Bhd. from Gan Poh Keong and Lee Geok Kim on July 14, 2017.