Swift Haulage Berhad (KLSE:SWIFT) entered into a Binding Offer to acquire Watt Wah Petroleum Haulage Pte. Ltd. from DLT Enterprise Pte. Ltd for SGD 1.6 million on August 10, 2022. Swift Haulage Berhad (KLSE:SWIFT) entered into an agreement to acquire Watt Wah Petroleum Haulage Pte. Ltd. from DLT Enterprise Pte. Ltd for SGD 1.6 million on November 17, 2022. Binding Offer is subject to a definitive share and purchase agreement and other documents related to Proposed Acquisition to be entered into between the Swift Haulage Berhad and DLT Enterprise Pte. Ltd. Board of directors of Swift Haulage Berhad approved the transaction. As of November 23, 2022, As per the terms of agreement, Swift Haulage shall deposit the Retention Sum with the Escrow Agent within twelve (12) months from the Completion Date in accordance with the Agreement and the provisions of the escrow agreement entered into among Swift Haulage and DLT Enterprise and the Escrow Agent on or around the date of the Agreement or such other date the parties agreed. The cost for establishing and maintaining the escrow account shall be borne solely by DLT Enterprise, and the Retention Sum shall only be utilised to set off against any Swift Haulage claims pursuant to the Agreement. Swift Haulage pay, or procure the repayment, to Oxalis of the Shareholder?s Loan in full in such manner as Swift Haulage may nominate (including but not limited to refinancing of the Shareholder's Loan) within sixteen Business Days from the Completion Date. The payment by Swift Haulage in the manner contemplated in the Agreement shall be full and final settlement of the Shareholder?s Loan, and Oxalis shall have no claims whatsoever against the Watt Wah respect of the Shareholder?s Loan following such payment.

Swift Haulage Berhad (KLSE:SWIFT) completed the acquisition of Watt Wah Petroleum Haulage Pte. Ltd. from DLT Enterprise Pte. Ltd for SGD 1.6 million on November 30, 2022