UMS Holdings Limited (SGX:558) acquired 21.96% stake in JEP Holdings Ltd. (Catalist:5FA) from Zee Hoong Huay and others for SGD 22.7 million on January 16, 2018. Under the terms, UMS Holdings acquired 320 million shares at SGD 0.07 per share and Zee Hoong Huay will receive SGD 7.7 million as consideration for selling 110 million ordinary shares. Following the completion of the transaction, Zee Hoong Huay has ceased to be the controlling shareholder (but remains as a substantial shareholder with 12.48% shareholdings) of the JEP Holdings Ltd. UMS Holdings Limited holds 29.5% stake in JEP Holdings Ltd.

UMS Holdings Limited (SGX:558) completed the acquisition of 21.96% stake in JEP Holdings Ltd. (Catalist:5FA) from Zee Hoong Huay on January 16, 2018.