CB Industrial Product Holding Berhad (KLSE:CBIP) acquired 70% stake in Modipalm Engineering Solutions Sdn. Bhd. from Mak Chee Meng, Tan Yu Hwa, Datuk Lim Chai Beng, Lim Chai Guan and Tan Sow Peng for MYR 70 on January 10, 2018. CB Industrial Product Holding Berhad acquired 0.7 million shares of Modipalm Engineering Solutions Sdn. Bhd. CB Industrial Product Holding Berhad acquired 10% stake from Mak Chee Meng, 10% from Tan Yu Hwa and remaining 50% from Datuk Lim Chai Beng, Lim Chai Guan and Tan Sow Peng. The transaction will be funded from internally generated funds. The acquisition will have no impact on earnings, net assets and gearing. The acquisition is expected to contribute positively to the future financial performance of CB Industrial Product. CB Industrial Product Holding Berhad (KLSE:CBIP) completed the acquisition of 70% stake in Modipalm Engineering Solutions Sdn. Bhd. from Mak Chee Meng, Tan Yu Hwa, Datuk Lim Chai Beng, Lim Chai Guan and Tan Sow Peng on January 10, 2018.