Lei Shing Hong Limited agreed to acquire Hs Credit (Birmingham) Ltd from Hap Seng Consolidated Berhad (KLSE:HAPSENG) for approximately £130 million on May 27, 2022. In the year ending on December 31, 2021, Hs Credit had net assets £51.2 million and profit after tax of £0.85 million. The deal is conditional upon the approval from the shareholders of Hap Seng Consolidated Berhad. The deal is expected to close by the third quarter of 2022. CIMB Bank (L) Limited and Affin Hwang Investment Bank Berhad acted as financial advisor to Hap Seng Consolidated Berhad. As of July 5, 2022, the deal is expected to close by the end of August. As of July 28, 2022, the deal has been approved by the shareholders of Hap Seng Consolidated Berhad.

Lei Shing Hong Limited completed the acquisition of Hs Credit (Birmingham) Ltd from Hap Seng Consolidated Berhad (KLSE:HAPSENG) on August 2, 2022.