HHRG Berhad (KLSE:HHRG) agreed to acquire 51% stake in PKB Open Road (SP Circuit) Sdn Bhd and ORIC Development (SP) Sdn Bhd from Open Road World Sdn Bhd for MYR 40 million on April 18, 2024. The consideration consists of MYR 40 million in cash. As part of the consideration, MYR 40 million was paid towards common equity towards 51000 shares of PKB Open Road (SP Circuit) Sdn Bhd and 51 shares of ORIC Development (SP) Sdn Bhd.

The SSA shall be executed within thirty days from the acceptance of the Letter of Intent from Open Road World Sdn Bhd on April 18, 2024, subject to satisfactory due diligence.The Acquisition is expected to be completed by first half of 2024.