Fast Track Solution Holdings Bhd (KLSE:FASTRAK) entered into a share purchase agreement to acquire 60% stake in Newo Pictures Sdn. Bhd. from Choong Kwai Onn and Lee Ying Kheong for MYR 0.09 million in cash on August 20, 2013. Fast Track Solution will acquire 0.02 million for MYR 0.04 million in Newo Pictures from Choong Kwai Onn and Lee Ying Kheong each. The deal will be funded by internal generated funds of Fast Track Solution Holdings. The deal is conditional upon Choong Kwai and Lee Ying obtaining approval from the Directors of NPSB to register the transfer of shares. The deal is not subject to the approval of the shareholders of Fast Track Solution or any government authorities. The deal is expected to be completed within one and a half months from the date of agreement. The deal will not have any effect on the issued and paid-up share capital and the substantial shareholders' shareholding, gearing, net assets, net assets per share, earnings and earnings per share of the FTSHB group for the year ending December 31, 2013.

Fast Track Solution Holdings Bhd (KLSE:FASTRAK) completed the acquisition of 60% stake in Newo Pictures Sdn. Bhd. from Choong Kwai Onn and Lee Ying Kheong on January 2, 2014. The Board of Directors and the shareholders of Newo Pictures approved the deal. The balance purchase consideration has been made to oong Kwai Onn and Lee Ying Kheong on January 2, 2014.