Hong Seng Consolidated acquires Hong Seng Frontier for RM45mil

PETALING JAYA: HS Green Valley Sdn Bhd (HSGV), a wholly-owned subsidiary of Hong Seng Consolidated Bhd, has entered into an agreement to acquire all of Hong Seng Frontier Sdn Bhd (HSF) from Velocity Capital Partner Bhd.

The purchase, involving 250,000 ordinary shares worth a total of RM45.25mil, would be entirely financed by cash, with a 10% deposit being paid to Velocity upon execution of the sales and purchase agreement (SSA) and the balance to be remitted on or before the completion date of the SSA.