Chang Mun Kee, Chief Executive Officer of JcbNext and Wong Siew Hui, Chief Technology Officer of JcbNext made an offer to acquire remaining 41.8% stake in JcbNext Berhad (KLSE:JCBNEXT) for MYR 70.3 million on November 25, 2016. Under the terms of transaction, Chang Mun Kee and Wong Siew Hui will pay MYR 1.2 for each share in cash. In a related transaction, Chang Mun Kee and Wong Siew Hui acquired 20.2% stake in JcbNext Berhad from SEEK International Investments Pty Ltd for MYR 33.8 million on November 25, 2016. AmInvestment Bank confirms that the resources are available to Chang Mun Kee and Wong Siew Hui to satisfy full acceptance of the offer. The offer is not conditional upon minimum level of acceptance of offer shares. Mark Chang and Wong Siew Hui intend to maintain the listing status of JcbNext Berhad. Chang Mun Kee and Wong Siew Hui do not intend to invoke the provisions with respect to compulsorily acquisition to acquire any share for which valid acceptance is not received. The offer will be open from November 25, 2016 till January 6, 2017. The Board of JcbNext Berhad recommended the shareholders to reject the offer. AmInvestment Bank Berhad acted as financial advisor for Mark Chang and Wong Siew Hui in the transaction. Wong Wing Seong, Dato' Feizal Mustapha, Pam Lee Wen Ai, Chin Sin Ying and Hasanuddin Bin Amiruddin of BDO Capital Consultants Sdn Bhd acted as the financial advisors to JcbNext Berhad. Boardroom Corporate Services (KL) Sdn Bhd acted as the registrar for the offer. Chang Mun Kee, Chief Executive Officer of JcbNext and Wong Siew Hui, Chief Technology Officer of JcbNext completed the acquisition of an additional 0.16% stake in JcbNext Berhad (KLSE:JCBNEXT) for MYR 0.2 million on January 6, 2017. Chang Mun Kee acquired 0.23 million shares of JcbNext Berhad.