Kejuruteraan Asastera Berhad (KLSE:KAB) announced a proposed agreement to acquire 10% stake in LeveragEdge Sdn Bhd from Loo Chun Keat for MYR 0.7 million on January 3, 2020. As per terms, Kejuruteraan Asastera shall acquire 0.0125 million shares and will pay first payment of MYR 0.35 million to Loo Chun Keat and remaining MYR 0.35 million to be payable to Loo Chun Keat within fourteen days upon LeveragEdge Sdn. Bhd. securing a contract or un-billable amount worth MYR 16 million on or before December 31, 2020 or achieve MYR 1.25 million PAT for December 31, 2020 whichever is earlier. An initial deposit of MYR 1000 will be payable within three date from the agreement date which is refundable upon termination. In a related transaction, Kejuruteraan Asastera will inject MYR 1.4 million to subscribe for 0.025 million or 20% share. The transaction is conditioned upon signing of a definitive agreement, satisfactory result of financial and legal due diligences, transfer and allotment instruments for 30% ordinary shares duly registered by LeveragEdge Sdn. Bhd. in favor of Kejuruteraan Asastera Berhad and all original share certificates to be deposited with Kejuruteraan Asastera Berhad solicitors.