Oriental Holdings Berhad (KLSE:ORIENT) entered into a Sale and Purchase Agreement to acquire additional 5% stake in Armstrong Auto Parts Sdn Bhd from Hi-Lex Corporation (TSE:7279) for MYR 0.58 million on July 30, 2018. Post completion of the transaction, Oriental Holdings Berhad will hold 100% stake in Armstrong Auto Parts Sdn Bhd. The acquisition will not have any effect on the issued share capital of Oriental Holdings Berhad and the shareholding of its substantial stockholders as the consideration is cash from Oriental Holdings Berhad's internally generated fund. The acquisition will also not have any material effect on the earnings, net assets or gearing of Oriental Holdings Berhad on a consolidated basis for the financial year ending December 31, 2018.

Oriental Holdings Berhad (KLSE:ORIENT) completed the acquisition of additional 5% stake in Armstrong Auto Parts Sdn Bhd from Hi-Lex Corporation (TSE:7279) on August 9, 2018.