SingAsia Holdings Limited (SEHK:8293) entered into a non-legally binding memorandum of understanding to acquire an unknown stake in Yesinspace Limited on August 25, 2021. SingAsia Holdings Limited (SEHK:8293) entered into an agreement to acquire 49% stake in Yesinspace Limited from Cheung Chim Pan and others for HKD 21 million on December 10, 2021. The Consideration of shall be satisfied by the allotment and issue of
300 million new Shares. Yesinspace had a revenue of HKD 12.753 million, and reported loss after taxation of 1.713 million in year ended Marche 31, 2021.

Upon the signing of the MOU, SingAsia Holdings Limited shall conduct due diligence on the assets, finances, taxes, liabilities, legal compliance, business and operation of Yesinspace Limited and its subsidiaries as it may consider appropriate. As on December 10, 2021, SingAsia Holdings Limited is satisfied with the results of the due diligence exercise, and deal is subject to other conditions precedent.

SingAsia Holdings Limited (SEHK:8293) completed the acquisition of 49% stake in Yesinspace Limited on June 30, 2022.