Sunzen Group Berhad announced that the Ordinary Resolution tabled at its Extraordinary General Meeting saw shareholders approving the proposed variation to the terms for the acquisitions of the remaining 30% equity interests in Ecolite Biotech Manufacturing Sdn. Bhd. and Yanming Resources Sdn. Bhd.
The Proposed Variation relates to the second supplemental share sale agreements (“2nd Supplemental SSAs”) dated 26 May 2026, which vary the terms of the respective share sale agreements dated 20 December 2023 and first supplemental share sale agreements dated 14 June 2024.
The 2nd Supplemental SSAs relate to the acquisition of the remaining 30% equity interest in Ecolite from Koh Lee Fong, Lim Wee Chun, Fam Jian Yap and G Five Holdings Ltd, as well as the remaining 30% equity interest in Yanming from Lim Poh Chuw, Fam Jian Yap, Cai HeGui and Chua Huai Gen.
Group Managing Director of Sunzen Group Berhad, Mr. Teo Yek Ming commented, “Ecolite and Yanming form an integral part of our Health Products segment, and we remain committed to strengthening these businesses as part of Sunzen’s broader strategy to build a more focused and sustainable business portfolio.”
Following shareholders’ approval, the Proposed Variation pursuant to the 2nd Supplemental Agreements entered into on 26 May 2026 will take effect. The Proposed Variation includes the deferment of the profit guarantee period for Ecolite and Yanming from FYE2025 and FYE2026 to FYE2027 and FYE2028, providing the guarantors with additional time to fulfil their respective profit guarantee obligations.
