Zeng RongYing entered into a share purchase agreement to acquire Kanger Trading (HK) Co.Ltd from Kanger International Berhad (KLSE:KANGER) for RYM 4.6265 on September 29, 2022. The amount is payable within 1 month from the date of signing of the agreement. As of March 31, 2022, Kanger Trading (HK) Co.Ltd reported loss after tax of $7,558 million and net liabilities of $4 million.

The proceeds from the Proposed Disposal shall be utilized to offset legal fees incurred for the SSAs preparation. The transaction is expected to be completed in the second half of 2022.