Yee Lee Organization Bhd., Lim A Heng @ Lim Kok Cheong, Chua Shok Tim @ Chua Siok Hoon, Lim Ee Young and Langit Makmur Sdn. Bhd. entered into a voluntary takeover offer to acquire remaining 9.9% stake in Yee Lee Corporation Bhd. (KLSE:YEELEE) for MYR 39.1 million on May 12, 2020. Under the terms of the transaction, 19.272907 million shares will be acquired at MYR 2.06 per share. Before transaction, Yee Lee Organization Bhd., Lim A Heng @ Lim Kok Cheong, Chua Shok Tim @ Chua Siok Hoon, Lim Ee Young and Langit Makmur Sdn. Bhd. held 52.89% stake, 3.61% stake, 1.1% stake, 0.81% stake, and 31.53% stake respectively. As at May 12, 2020, the Joint Offerors collectively hold 172.331393 million Yee Lee Shares (representing 89.94% of the issued shares in Yee Lee). The offer is not conditional on minimum level of acceptance. Subsequent to the announcement of the offer, Langit Makmur, had acquired a total of 2,792,700 Yee Lee Shares from the open market, thus making total shares under the scope of offer to be 16,480,207 shares or 8.6% stake. The offerors do not intend to maintain the listing of Yee Lee Corporation Bhd. In the event acceptance of not less than nine-tenth of the in the nominal value of the offer shares have been received, the offeror will proceed with compulsory acquisition. The offer will remain open for not less than 21 days from the posting date of offer document, may be extended and the closing date shall not be later than 60th day from the posting date. The Non-Interested Directors of Yee Lee Corporation Bhd. recommends shareholders to vote in favor of the transaction. As on June 2, 2020, the offer is open for acceptances and transfer and dispatched to shareholders. The offer is open until June 23, 2020, unless extended by Joint offerors no later than two days before closing date. Affin Hwang Investment Bank Berhad acted as financial advisor and fairness opinion provider to directors and holders of Yee Lee Corporation Bhd. UOB Kay Hian Securities (M) Sdn Bhd. acted as manager to the offerors. Yee Lee Organization Bhd., Lim A Heng @ Lim Kok Cheong, Chua Shok Tim @ Chua Siok Hoon, Lim Ee Young and Langit Makmur Sdn. Bhd. completed the acquisition of remaining 9.9% stake in Yee Lee Corporation Bhd. (KLSE:YEELEE) on June 23, 2020. Pursuant to closing, The Shareholders of Yee lee who have not accepted the Offer issued by the Joint Offerors on June 25, 2020, The holders can exercise their rights on the same terms (including same offer price of MYR 2.06 for each share). The Joint Offerors have acquired a total of 4,798,500 Yee Lee Shares via open market acquisitions and have received valid acceptances of 879,224 Yee Lee Shares, both of which relates to the Offer, as at the Closing Date.