The Board of Directors of NETX Holdings Berhad (“NETX” or “the Company”) wishes to announce that E-FX Sdn. Bhd. (“EFX” or “Purchaser”), a wholly-owned subsidiary of the Company, had on 20 January 2023 entered into Share Sale and Purchase Agreement (“SPA”) with Mr. Tan Sik Eek (“Vendor”) for the proposed acquisition of 790,500 ordinary shares in Mountain Money Sdn. Bhd. (“MMSB”), representing 51% of the total issued and paid-up share capital of MMSB (“Sale Shares”) for a total consideration of RM332,010 only (“Purchase Consideration”) (“Proposed Acquisition”). Upon completion, the total equity interest of EFX in MMSB will be increased from 49% to 100% and MMSB will become an indirect wholly-owned subsidiary of NETX. 

Please refer to the attachment for further details of the Proposed Acquisition. 

This announcement is dated 20 January 2023.