BAssets to buy over numbers forecast firm

Duta Yap(filepic) and his son Yap Wee Sean are among the directors of Megaquest, which is a 50:50 JV between TSB and V-Circle. The Megaquest group at present owns a 70% stake in NASB, while the remaining 30% stake is directly held by three other wholly owned subsidiaries of BAssets. V-Circle, on the other hand, is jointly owned by Duta Yap

PETALING JAYA: Berjaya Assets Bhd (BAssets) will gain full control of Sarawak-based numbers forecast operator Natural Avenue Sdn Bhd (NASB) – which is its joint venture (JV) with tycoon Tan Sri Yap Yong Seong, or popularly known as Duta Yap – in a RM108mil deal to buy up the remaining stake it does not own in Megaquest Sdn Bhd.

In a filing with Bursa Malaysia, BAssets said its subsidiary, Tropicfair Sdn Bhd (TSB), had entered into a share sale agreement yesterday to acquire the remaining 50% stake, or 3.5 million shares, in Megaquest for a cash consideration of RM108mil, or RM30.81 per share, from Violet Circle Sdn Bhd (V-Circle).