Seleksi Juang Sdn Bhd made an offer to acquire the remaining 22.5% stake in United Malayan Land Bhd (KLSE:UMLAND) from Khong Guan Flour Milling Ltd. (SGX:K03), Netson Investments Ltd, Tradewinds Resources Sdn Bhd, King George Financial Corp. (TSXV:KGF), Chee Tat Holdings (s) Pte Ltd., Wawasan Perangsang Mewah Sdn Bhd., Restu Jernih Sdn Bhd. and other shareholders for approximately MYR 170 million in cash on July 12, 2012. Seleksi Juang Sdn Bhd offered to acquire 67.8 million shares for MYR 2.5 per share. If the holders accept the offer before September 5, 2012, Seleksi Juang Sdn Bhd will pay MYR 2.5 per share and if the holders accept the offer after September 5, 2012, Seleksi Juang Sdn Bhd will pay MYR 2.45 per share.

The offer will remain open for acceptances for a period of not less than 21 days from posting date, unless extended or revised. The offer is not conditional upon minimum number of valid acceptances. The transaction is subject to approval of Securities Commission and any other relevant authorities/parties. The offer document will be dispatched within 21 days from the announcement of offer. Pursuant to the successful completion of the offer, Seleksi Juang Sdn Bhd intend to delist United Malayan from stock exchange. If the offer receives sufficient level of acceptances, Seleksi Juang Sdn Bhd intends to invoke compulsorily acquisition for the shares for which valid acceptances have not been received before closing of the offer. As on July 19, 2012, Public Investment Bank declared the unconditional offer.

On August 7, 2012, King George Financial Corporation, Netson Investments Ltd, Ng Eng Soon, Ng Yew Chuan, Ng Yew Hui, Tradewinds Resources Sdn Bhd agreed to dispose all their shares. The offer will remain open for acceptances till August 23, 2012. As of August 16, 2012, the offer is extended from August 23, 2012 to September 6, 2012. The offer reached an acceptance of 85.35% stake. On August 7, 2012, Khong Guan Flour Milling Ltd. agreed to dispose all its shares.

As on August 28, 2012, Tradewinds Resources Sdn Bhd accepted the offer of Dato' Ng Eng Tee and Tan Sri Dato' Seri Syed Mokhtar Shah bin Syed Nor to sell 22.8 million shares in United Malayan Land for MYR 55.71 million in cash. The transaction is expected to be completed by the third quarter of 2012. The sale proceeds would be utilized towards the repayment of Tradewinds Corp. Bhd's bank borrowings and reduce its gearing. The disposal will increase Tradewinds Corp. Bhd's net assets and gearing but will not have any effect on the share capital and on shareholdings of the substantial shareholders' of Tradewinds Corp.

Affin Investment Bank Berhad was appointed as the independent financial advisor to the non-interested Board and holders. Public Investment Bank Berhad acted as financial advisor and Securities Services (Holdings) Sdn. Bhd. acted as transfer agent for Seleksi Juang Sdn Bhd.

Seleksi Juang Sdn Bhd completed the acquisition of the remaining 22.5% stake in United Malayan Land Bhd (KLSE:UMLAND) from Khong Guan Flour Milling Ltd. (SGX:K03), Netson Investments Ltd, Tradewinds Resources Sdn Bhd, King George Financial Corp. (TSXV:KGF), Chee Tat Holdings (s) Pte Ltd., Wawasan Perangsang Mewah Sdn Bhd., Restu Jernih Sdn Bhd and other shareholders on September 6, 2012. Seleksi Juang Sdn Bhd will compulsorily acquire shares held by the dissenting shareholders. A notice has been dispatched for the compulsory acquisition to dissenting shareholders.