Hong Leong Asia Ltd. (SGX:H22) acquired 6.5% stake in Tasek Corporation Berhad (KLSE:TASEK) for MYR 43.5 million on May 28, 2019. Hong Leong Asia Ltd. acquired 7.9 million shares at MYR 5.5 each. Prior to the transaction, Hong Leong Asia Ltd. held 74.28% stake in Tasek Corporation Berhad. Post completion of transaction, Hong Leong Asia Ltd. holds 80.8% stake in Tasek Corporation Berhad. In a related transaction, Hong Leong Asia Ltd. made an offer to acquire 19.2% stake in Tasek Corporation Berhad on May 28, 2019. The transaction is not expected to have a material impact on the net tangible assets per share or earnings per share of Hong Leong Asia Ltd. for the current financial year. Rajah & Tann Singapore LLP acted as the legal advisor to Hong Leong Asia Ltd.

Hong Leong Asia Ltd. (SGX:H22) completed the acquisition of 6.5% stake in Tasek Corporation Berhad (KLSE:TASEK) on May 28, 2019.