The Hanryu Times Co., Ltd. (KOSDAQ:A039670) agreed to acquire 13.5% stake in DMD TECHNOLOGY SDN BHD from Yap Poh Keong and Lim Chiew Shan for KRW 5.4 billion on March 21, 2019. As per the terms, The Hanryu Times will issue convertible bonds to acquire 0.01 million shares of DMD TECHNOLOGY. DMD TECHNOLOGY reported total assets of KRW 86 million, net assets of KRW 81 million, sales of KRW 110 million and net profit of current period of KRW 54 million as of December 31, 2018. The transaction has been resolved by the Board of Directors of The Hanryu Times at the meeting held on March 21, 2019. The transaction is expected to be completed on April 22, 2019. As of April 22, 2019, completion is expected on May 28, 2019. As of May 23, 2019, the transaction is expected to close on May 23, 2019. The Hanryu Times Co., Ltd. (KOSDAQ:A039670) cancelled the acquisition of 13.5% stake in DMD TECHNOLOGY SDN BHD from Yap Poh Keong and Lim Chiew Shan on March 21, 2020.