Vetece Holdings Berhad (Vetece) has entered into a Share Sale Agreement (SSA) to acquire a 100% equity interest in AI Tech Cloud Sdn. Bhd. (AI Tech) for a nominal cash consideration of RM1.00.
The company confirmed the agreement was executed on August 6, 2026, with the sole vendor and director of AI Tech, Khoo Han Wei.
Following the completion of the acquisition, Vetece plans to progressively inject capital into AI Tech by subscribing to new ordinary shares, ultimately increasing its target company’s issued share capital up to RM2 million.
The nominal acquisition price will be fully funded through Vetece’s internally generated funds.
Incorporated in September 2024, AI Tech currently has an issued share capital of RM1.00. Meanwhile, Vetece—which specialises in IT implementation, support services, and hardware/software resale—noted that while the immediate deal will not have a material impact on its net assets, earnings per share, or gearing, the acquisition is expected to contribute positively to the group’s future earnings.
