Asia Poly Holdings Berhad (KLSE:ASIAPLY) agreed to acquire 15% stake in Cyprium Wire Technology Sdn Bhd. from directors Wong Chen Feng and Wong Ah Piaw for RM 8 million on May 21, 2021. The acquisition consists of 0.71 million shares. The Acquisition was funded by internal generated fund. On the day of execution of the agreements by Asia Poly Holdings, the Company shall pay to the Wong Chen Feng and Wong Ah Piaw 20% of the purchase price. on the completion date, the Asia Poly Holdings shall pay the balance purchase price by a banker’s cheque/cashier’s order/IBG Telegraphic Bank Transfer drawn from a Malaysian bank in favor of the Wong Chen Feng and Wong Ah Piaw. The Acquisition will not have a material effect on the earnings and net assets of Asia Poly Group for the financial year ending 31 December 2021. The transaction is expected to be completed within two months from the date of the agreements. Asia Poly Holdings Berhad (KLSE:ASIAPLY) completed the acquisition of 15% stake in Cyprium Wire Technology Sdn Bhd. from directors Wong Chen Feng and Wong Ah Piaw on June 21, 2021.