Ng L'yp-Hau agreed to acquire 65% stake in 5T3M Sdn. Bhd from Eduspec Holdings Berhad (KLSE:EDUSPEC) for MYR 1 million on September 7, 2022. Ng L'yp-Hau will pay MYR 0.5 million and balance will be paid on completion date. Eduspec Holdings will sell 0.065 million shares in 5T3M. Upon completion of the Proposed Disposal, the shareholdings of Eduspec Holdings in 5T3M will be reduced from 100% to 35%. As of February 28, 2022, 5T3M reported net liabilities of RM 4.8 million. Under the Agreement, Completion shall take place on or before the date which is seven days after the Stop Date or any other date agreed in writing between the parties. The transaction is expected to complete by October 30, 2022. The Proposal will be funded by internally generated funds. As of November 3, 2022, Ng L'yp-Hau has entered into a Letter of Agreement to acquire 50% stake in 5T3M Sdn. Bhd from Eduspec Holdings Berhad (KLSE:EDUSPEC). Subject to the terms of the LOA, LH (the Seller) shall, as legal and beneficial owner of the 50% shares of 5T3M, sell to (Industronics Berhad) IB and IB shall purchase all of the said shares free from all encumbrances and together with all the rights attached thereto as at the completion date. The obligations of IB to complete the proposed acquisition is conditional upon the following, to make payment to LH MYR 0.5 million as deposit for the proposed acquisition upon signing of the sale purchase agreement between LH and Eduspec Holdings Berhad, to obtain all the necessary approval from IB's Board of Directors or shareholders in general meeting. The Proposal is not subject to the approval of the shareholders of IB or any other relevant authorities. the Proposal is estimated to be completed latest by the first quarter of 2023.

Ng L'yp-Hau completed the acquisition of 65% stake in 5T3M Sdn. Bhd from Eduspec Holdings Berhad (KLSE:EDUSPEC) on November 29, 2022.