Digiland International Limited (SGX:G77) agreed to acquire the remaining 80.1% stake in International Energy Group Pte. Ltd. from Goh Jin Hian for SGD 7.6 million in bonds on December 29, 2014. Under the terms of the agreement, consideration would be lower of SGD 7.6 million or the amount computed based on 4 x 80.1% x (audited net profit after tax of International Energy Group for 2015. The consideration shall be satisfied by the issuance of bond. The bonds would be redeemed within one year of the issue and payment shall be made in cash or issuance of shares of Digiland subject to shareholder approval.

Digiland International Limited (SGX:G77) completed the acquisition of the remaining 80.1% stake in International Energy Group Pte. Ltd. from Goh Jin Hian on January 8, 2015.