Yanlord Perennial Investment (Singapore) Pte. Ltd. ("Yanlord") has acquired 33.5% of the total voting shares in United Engineers Limited ("UEL") pursuant to a sale and purchase agreement dated 13 July 2017.
As a result of the acquisition, Yanlord has deemed interest in Apex Healthcare Berhad through the interest held by UE UMC Pte Ltd, a wholly-owned subsidiary of UEL by virtue of Section 8 of the Companies Act 2016.