PETALING JAYA: HS Green Valley Sdn Bhd (HSGV), a wholly-owned subsidiary of Hong Seng Consolidated Bhd
, has entered into an agreement to acquire all of Hong Seng Frontier Sdn Bhd (HSF) from Velocity Capital Partner Bhd.
The purchase, involving 250,000 ordinary shares worth a total of RM45.25mil, would be entirely financed by cash, with a 10% deposit being paid to Velocity upon execution of the sales and purchase agreement (SSA) and the balance to be remitted on or before the completion date of the SSA.
