3rd Jan 2025 10:52
MobilityOne Ltd - Kuala Lumpur-based e-commerce payment solutions provider - Says it has been granted an extension to February 28, 2025, on the second tranche payment due for its acquisition of a 49% stake in Sincere Acres Sdn Bhd, an investment holding company operating in Malaysia. Subsidiary MobilityOne Sdn Bhd completed the acquisition in October 2023 for a total of MYR30 million, or GBP5.4 million, paid to United Flagship Development Sdn Bhd. The first tranche of MYR2.0 million was paid in October 2023, and the second tranche had been due on March 8, 2024, before being initially extended to September 9, 2024. The second tranche will continue to accrue interest at a rate of 10% per annum, and all other terms of the acquisition remain unchanged.
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By Emily Parsons, Alliance News reporter
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