Signature International Berhad (KLSE:SIGN) agreed to acquire Areal Interior Solutions Pte Ltd. from Leng Foo and Chua Wei Ping for SGD 2.8 million on November 3, 2022. Transaction will be funded via a combination of internally generated funds and bank borrowings, of which the proportions will be determined later after taking into consideration Signature and its subsidiaries. For the period ended February 28, 2022, Areal has revenue of SGD 4.643 million. Transaction is subject to approval by satisfactory legal, financial and/or business due diligence findings, approval of the directors and/or shareholders of the Signature International Berhad and completion of Proposed Acquisition of Corten. Acquisitions are expected to be completed by 1st half of 2023. The shareholders of Signature International Berhad approved the transaction in the Extraordinary General Meeting held in March 8, 2023. Oon & Bazul LLP acted as legal advisor to Signature International. M&A Securities Sdn. Bhd. acted as financial advisor to Signature International.

Signature International Berhad (KLSE:SIGN) completed the acquisition of Areal Interior Solutions Pte Ltd. from Leng Foo and Chua Wei Ping on May 17, 2023.