CAB Cakaran Corp. Bhd (KLSE:CAB) signed a letter of intent to acquire certain assets from Sinmah Livestocks Sdn. Bhd. (SLSB) for MYR 74 million on February 5, 2016. An earnest deposit of MYR 1.5 million is to be paid to SLSB which shall form part of any of the proposed purchase price. In related transactions, CAB signed a letter of intent to acquire certain assets from Farm’s Best Food Industries Sdn. Bhd. for MYR 80 million and certain assets from Sinmah Breeders Sdn. Bhd. for MYR 88 million on February 5, 2016. The assets to be acquired from Sinmah Livestocks Sdn. Bhd. include land, building and equipment located at SLSB's boiler farms in Johore, Negeri, Sembilan and Melaka, in addition to SLSB’s licenses and customer database. SLSB shall agree to grant CAB an exclusive right for a period of up to nine months or such other extended period as may be agreed by both parties to carry out due diligence review and feasibility study to study the possibility of purchasing certain assets. The final purchase consideration shall be mutually agreed by both parties and will depend on the outcome of the due diligence review, independent valuation report and the terms and conditions as set out in the formal sale and purchase agreement or any other alternate proposals to be accepted by both parties. If no formal sale and purchase agreement is signed within the exclusive period, SLSB shall refund the earnest deposit to CAB immediately and thereafter the letter of intent shall be null and void. Sinmah Livestocks Sdn. Bhd has accepted the terms of the letter of intent and received the earnest deposit on February 5, 2016. Part of the proceeds from the disposals can be utilized as working capital for Farm's Best Bhd's other existing businesses. CAB Cakaran Corp. Bhd (KLSE:CAB) cancelled the acquisition of certain assets from Sinmah Livestocks Sdn. Bhd. (SLSB) on January 24, 2017.