Chu Yuet Wah entered into a sale and purchase agreement to acquire 48.6% stake in Synergis Holdings Ltd. (SEHK:2340) from Hsin Chong Group Holdings Limited (SEHK:404) for approximately HKD 280 million on November 18, 2016. Under the terms, the buyer will acquire approximately 170 million ordinary shares and 80 million convertible preference shares in the share capital of Synergis Holdings Ltd. Deal will be funded from internal resources. Following the completion, Hsin Chong Group Holdings will cease to hold any ordinary shares or any preference shares of Synergis Holdings. Euto Capital Partners Limited acted as financial advisor to Hsin Chong Group Holdings Limited.

Chu Yuet Wah completed the acquisition of 48.6% stake in Synergis Holdings Ltd. (SEHK:2340) from Hsin Chong Group Holdings Limited (SEHK:404) on November 21, 2016.