The Board of Directors of Mega First Corporation Berhad (“MFCB”) wishes to announce that Edenor Technology Sdn Bhd (the “Purchaser” or “Edenor Technology”), a 50:50 joint venture company between MFCB and 9M Technologies Sdn Bhd (“9M Technologies”), has on 19 August 2021 entered into a conditional Sale and Purchase Agreement (“SPA”) with Sime Darby Plantation Berhad and PTTGC International Private Limited (collectively, the “Vendors”) to purchase the entire issued and paid-up capital of Emery Oleochemicals (M) Sdn Bhd (“EOM”) and Emery Specialty Chemicals Sdn Bhd (“ESC”) for a Target Equity value of RM38 million (the “Proposed Acquisition”).

Please refer to the attachment for the details of the announcement. 

This announcement is dated 19 August 2021.