ITEM 2.01 Completion of Acquisition or Disposition of Assets.
Acquisition of DSwiss Biotech Sdn Bhd
On March 17, 2016, DSwiss (HK) Limited ("DSHK") invested in DSwiss Biotech Sdn
Bhd ("DSBT"), a Company incorporated in Malaysia, and owned 40% of equity
interest.
On January 18, 2023, DSwiss (HK) Limited acquired 150,000 shares (remaining 60%
of total number of shares) of DSwiss Biotech Sdn Bhd from a shareholder, Jervey
Choon, pursuant to which DSHK acquired 100% of DSBT. As consideration thereof,
DSHK agreed to make the proceeds payment of USD 0.23 to the shareholder.
DSwiss Biotech Sdn Bhd primarily operates in Malaysia by supplying biotech
products to their clients as set forth below:
Name Business Description
DSwiss Biotech Sdn Bhd (Malaysia) Supply biotech products with in-house research
and development. The company mainly focus on
Malaysia clients.
An organizational chart of DSwiss, Inc. is set forth below:
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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
2.1 Sale and Purchase Agreement, dated as of January 18, 2023, between
DSwiss (HK) Limited and Jervey Choon
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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