MIE Holdings Corporation (SEHK:1555) acquired 51% stake in Prestariang O&G Sdn. Bhd from Awanbiru Technology Berhad (KLSE:AWANTEC) for MYR 0.11 million on August 23, 2021. As part of consideration, Awanbiru Technology Berhad will transfer 178,500 ordinary shares, representing 51% stake of the Prestariang. Prestariang O&G Sdn. Bhd generated revenues of MYR 4.44 million, loss before interest, taxes. depreciation and amortization of MYR 0.058 million, net loss of MYR 0.154 million and net assets of MYR 1.38 million for the financial year ended 2020. The Proposed Disposal is not expected to have any material effect on the net assets, net assets per share and gearing of the Group for the FYE 30 June 2022. The Proposed Disposal is not expected to have a material effect to the earnings per share of the Group for the FYE 30 June 2022.

MIE Holdings Corporation (SEHK:1555) completed the acquisition of 51% stake in Prestariang O&G Sdn. Bhd from Awanbiru Technology Berhad (KLSE:AWANTEC) on August 23, 2021.