PTT Synergy Group Berhad (KLSE:PTT) entered into a conditional share sale agreement to acquire Pembinaan Tetap Teguh Sdn. Bhd. from Teo Swee Phin, Teo Swee Leng, and Faddly bin Nordin for approximately MYR 152 million on March 30, 2023. The cash portion of the transaction amount is MYR 62 million and for the remaining price PTT Synergy Group Berhad issue 81,081,081 new ordinary shares in PTT at an issue price of 1.11 per Share. The Cash Consideration shall be funded via bank borrowings. PTTSB reported Revenue of MYR 156.06 million, Net Assets of MYR 104.84 million, EBITDA of MYR 29.95 million, Net Income of MYR 16.95 million on December 31, 2022. The transaction is subject to the approvals from Bursa Securities for the listing of and quotation for the Consideration Shares, non-interested shareholders of PTT for the Proposed Acquisition at an extraordinary general meeting of the PTT Synergy Group Berhad (Company) to be convened, any other relevant authorities and/or parties, if required, due diligence conducted on Pembinaan Tetap Teguh Sdn. Bhd. (PTTSB), Company having obtained the approval or consent of the financiers, Vendors having obtained the approval or consent of the financiers of PTTSB, the execution of the Stakeholders? Agreement. On July 20, 2023, the transaction was approved by the shareholders of PTT Synergy. AmInvestment Bank Berhad acted as financial advisor to PTT Synergy Group Berhad. BDO Capital Consultants Sdn. Bhd. acted as a financial advisor to non-interested directors and non-interested shareholders of PTT for evaluation of the transaction.

PTT Synergy Group Berhad (KLSE:PTT) completed the acquisition of Pembinaan Tetap Teguh Sdn. Bhd. from Teo Swee Phin, Teo Swee Leng, and Faddly bin Nordin on August 10, 2023.