Acapella Energy Pte. Ltd. agreed to acquire Viking Airtech Pte. Ltd. and Viking HVAC Pte. Ltd. from Viking Offshore and Marine Limited (Catalist:1Y1) for SGD 0.05 million on March 27, 2022. The consideration is paid fully in cash. The transaction is subject to approval from shareholders and approval from approval regulatory board. The cumulative net asset is SGD 0.292 million at December 31, 2021.

Danny Lim and Tan Mui Hui of Rajah & Tann acted as legal advisor to Viking Offshore and Marine Limited (Catalist:1Y1).

Acapella Energy Pte. Ltd. completed the acquisition of Viking Airtech Pte. Ltd. and Viking HVAC Pte. Ltd. from Viking Offshore and Marine Limited (Catalist:1Y1) on May 18, 2022.