Chew Eng Hoe entered into a conditional sale and purchase agreement to acquire 90% stake in Chew’s Food International Limited from OneApex Limited (Catalist:5SY) for SGD 0.35 million on April 22, 2020. The Consideration shall be payable fully in cash on the date of completion. Upon completion of the disposal, Chew’s Food International Limited will cease to be a subsidiary of OneApex Limited. Chew’s Food International Limited reported net profit of SGD 0.1 million and book value of SGD 0.68 million for the year ending 2019. The transaction is subject to approval from the shareholders at a general meeting of OneApex Limited, third parties, governmental or regulatory body or relevant competent authority. As of May 5, 2020, the EGM will be held by way of electronic means on June 5, 2020. On June 5, 2020, OneApex Limited shareholders unanimously approved the deal. Completion shall take place within five business days from fulfilment and/or written waiver of all the conditions precedent in agreement. OneApex Limited intends to utilize the net proceeds for its general working capital requirements. Chew Eng Hoe completed the acquisition of 90% stake in Chew’s Food International Limited from OneApex Limited (Catalist:5SY) on June 8, 2020.