Lim Yew Hoe, Executive Director of Emas Kiara Marketing Sdn. Bhd. entered into a share sale agreement to acquire Emas Kiara Marketing Sdn. Bhd. from MB World Group Berhad (KLSE:MBWORLD) for MYR 1 million on April 10, 2017. Under the terms of the transaction, MYR 0.1 million shall be paid upon the execution of the agreement and MYR 0.9 million will be paid no later than 30 days from the execution of the agreement. Emas Kiara Marketing Sdn. Bhd. had net liabilities of MYR 6.61 million and net loss of MYR 2.46 million as on December 31, 2016. Lim Yew Hoe will assume a total liabilities of MYR 14.7 million as of January 31, 2017. The transaction is subject to approvals of the Directors of the purchaser, regulatory requirements by any relevant authorities, delivery of the latest audited account and/or management accounts of Emas Kiara Marketing Sdn. Bhd. for the period ending January 31, 2017 and due-diligence investigation. The cash proceeds from the transaction will be used to supplement the working capital requirements of Cocoa Valley Development Sdn Bhd. The transaction is not expected to have any material effect on the gearing, earning per share and net assets of MB World Group Berhad. Transaction is expected to close within 6 months from April 10, 2017. Lim Yew Hoe, Executive Director of Emas Kiara Marketing Sdn. Bhd. completed acquisition of Emas Kiara Marketing Sdn. Bhd. from MB World Group Berhad (KLSE:MBWORLD) on May 25, 2017.