Far East Horizon subsidiary acquires stake in Malaysian firm

Far East Horizon Limited (HKEX:3360) announced that its subsidiary, Horizon Construction Development Limited, will acquire an 80% equity stake in TH Tong Heng Machinery Sdn. Bhd., a leading Malaysian equipment rental company, for MYR176,000,000. The acquisition, executed through Horizon Construction Development's wholly-owned subsidiary, is structured as a share purchase agreement with the existing shareholders, Mr. Chan Heng Choy and Ms. How Mee Cheng. The deal includes call and put options for the remaining 20% of shares held by Mr. Chan. Far East Horizon aims to leverage the acquisition to strengthen its presence in the Southeast Asian market and integrate the Target Company's established sales and distribution network. The company sees the transaction as a strategic initiative to bolster its market presence and operational capabilities in the Southeast Asia region.