Tiah Thee Kian made an offer to acquire remaining 57.6% stake in TA Enterprise Berhad (KLSE:TA) from a group of shareholders for approximately MYR 650 million on December 14, 2020. As a part of transaction, Tiah Thee Kian will acquire remaining 986.9 million shares at a price of MYR 0.655 per share in cash. If the shareholders of TAE are entitled to retain any distribution that TAE may declare, the offer price will be reduced by an amount equivalent to the net distribution per offer share. Tiah Thee Kian has sufficient financial resources to satisfy the full acceptance of offer. If Tiah Thee Kian receives acceptance in terms of 90% of TAE shares, Tiah Thee Kian may within 4 months of the offer, compulsorily acquire remaining shares on the same terms by issuing notice to the shareholders who have not accepted the offer. Post completion of offer Tiah Thee Kian does not intend to maintain TAE's listing status on the main market of Bursa Securities and will request TAE to make the necessary application to withdraw its listing post approval from the majority of TAE shareholders. The offer is not conditional upon any minimum level of acceptance. The offer will remain open for acceptances until January 25, 2021, being the first closing date, unless revised or extended in accordance with the Rules. Any extension will be announced by TA Securities, on behalf of Tiah Thee Kian, no later than 2 days before the closing date. As the offer is unconditional as to acceptances, the closing date will not be later than March 5, 2021. The offer will be deemed to be closed before the closing date if the offeror has received acceptances for all the offer shares. As of February 16, 2021, Tiah Thee Kian has received valid acceptances of 90.04% of the total TA Enterprise Berhad shares in issue. Bursa Securities will suspend the trading of the securities of TAE commencing March 15, 2021, being the expiry of 5 Market Days from March 5, 2021, the closing date of the Offer. Tiah Thee Kian does not intend to maintain the listing status of TAE on the Main Market of Bursa Securities. Accordingly, Tiah Thee Kian will procure TAE to take the requisite steps to withdraw its listing status from the Official List. The Notice will be sent to the Dissenting Shareholders within 1 month from February 16, 2021, being the date of receipt of the Valid Acceptances by Tiah Thee Kian resulting in Tiah Thee Kian and persons acting in concert with him holding not less than 9/10 in the value of all the total number of TAE Shares. The expiration date of offer has been extended till March 5, 2021. Md Noor Abd Rahim and Dato’ Wan Asmadi Wan Ahmad of DWA Advisory Sdn Bhd acted as financial advisor to the Board of Directors of TAE. TA Securities Holdings Berhad acted as financial advisor to Tiah Thee Kian. Tricor Investor & Issuing House Sdn Bhd acted as registrar for Tiah Thee Kian. Datuk Jory Leong Kam Weng acted as the legal advisor for Tiah Thee Kian.