K&P International Holdings Ltd. (SEHK:675) acquired Hunpex Limited from Lee Chi Yin for HKD 3.5 million in cash on January 2, 2013. As per the terms of the deal, K&P International Holdings paid HKD 1.75 million to Lee Chi Yin upon execution of the agreement and the balance consideration of HKD 1.75 million will be paid within 10 business days after Lee Chi Yin produces the evidence of payment of all of the prepayments. The balance consideration shall be adjusted according to the receivables and bank balances of Hunpex. In a related transaction, K&P International Holdings Ltd. (SEHK:675) acquired Sun Ngai Plastic Products Factory Limited from Chan Wing Dat and Fok Chin To for HKD 3.5 million on January 2, 2013. As at December 31, 2011, the audited net asset value of Hunpex Limited is negative HKD 1.53 million. The unaudited net loss before and after taxation and extraordinary items of Hunpex for the ten months ended October 31, 2012 was HKD 2.08 million. The transaction is exempt from the shareholders' approval.

K&P International Holdings Ltd. (SEHK:675) completed the acquisition of Hunpex Limited from Lee Chi Yin on January 2, 2013.