Mestron Holdings Berhad (KLSE:MESTRON) entered into a Share Sale and Purchase Agreement to acquire 10% stake in Winstar Aluminium Manufacturing Sdn Bhd from Chua Nyok Chong and Chua Boon Hong for MYR 6 million on February 11, 2022. The Proposed Acquisition is to be funded via the proceeds raised from the private placement exercise of Mestron Holdings Berhad which was completed on September 30, 2021. For the fiscal year ended December 31, 2021, Winstar Aluminium Manufacturing reprted revenues of MYR 90 million. The Completion is subject to the Conditions Precedent, including the consummation of due diligence consummation. The Proposed Acquisition is expected to be completed within 95 days from the date of the SSPA. Lim Yoke Wah of Halim Hong & Quek acted as legal advisor to Mestron Holdings.

Mestron Holdings Berhad (KLSE:MESTRON) completed the acquisition of 10% stake in Winstar Aluminium Manufacturing Sdn Bhd from Chua Nyok Chong and Chua Boon Hong on September 13, 2022.