SHAH ALAM: Sunzen Group Bhd’s shareholders have approved changes to the terms of its acquisitions of the remaining 30% stakes in Ecolite Biotech Manufacturing Sdn Bhd and Yanming Resources Sdn Bhd.
In a statement, the group said the ordinary resolution on the proposed variation was passed at its extraordinary general meeting (EGM) on Monday.
Following the approval, the profit guarantee periods for Ecolite and Yanming will be deferred from the financial years ending 2025 and 2026 to FY27 and FY28, giving the guarantors additional time to fulfil their respective profit guarantee obligations.
The proposed variation relates to second supplemental share sale agreements entered into on May 26, 2026, which amend the terms of the original share sale agreements dated Dec 20, 2023 and the first supplemental agreements dated June 14, 2024.
“We appreciate the support demonstrated by our shareholders for the Proposed Variation.
“Ecolite and Yanming form an integral part of our Health Products segment, and we remain committed to strengthening these businesses as part of Sunzen’s broader strategy to build a more focused and sustainable business portfolio,” Sunzen group managing director Teo Yek Ming said.
He added that the group would continue strengthening its core businesses across health products, medical devices and services, and loan financing while pursuing opportunities that could contribute to sustainable long-term growth and shareholder value.
The acquisition involves the remaining 30% stake in Ecolite from Koh Lee Fong, Lim Wee Chun, Fam Jian Yap and G Five Holdings Ltd, as well as the remaining 30% interest in Yanming from Lim Poh Chuw, Fam Jian Yap, Cai HeGui and Chua Huai Gen.
Sunzen said the proposed variation will take effect following the shareholders' approval.
