Dato’ Tan Gee Swan @ Tan Suan Ching and Tan Yu Jian agreed to acquire Corporate Benchmark Sdn. Bhd. from Engtex Group Berhad and Tan Sri Dato’ Tee Tiam Lee for MYR 13.5 million.

Dato' Tan Gee Swan @ Tan Suan Ching and Tan Yu Jian agreed to acquire Corporate Benchmark Sdn. Bhd. from Engtex Group Berhad and Tan Sri Dato' Tee Tiam Lee for MYR 13.5 million on March 11, 2022.

The consideration will be fully paid in cash. MYR 12.15 million shall be paid on completion date which is 14 days or longer as both parties may agree from the fulfillment of condition precedent. The shareholding Corporate Benchmark is following, Engtex 67% and Tan Sri Dato' Tee Tiam Lee 33%.

Following the Disposal, CBSB shall cease to be a subsidiary of Engtex. The Disposal is not subject to the approval of the shareholders and the relevant government authorities. The transaction is expected to be completed in the third quarter of 2022.