MQ Technology Berhad (KLSE: MQTECH) entered into share sale agreement to acquire 51% stake in Oriental Link Properties (M) Sdn Bhd from Lee Khoon Eng for MYR 3.7 million on September 24, 2021. MQ Technology Berhad (KLSE: MQTECH) entered into a memorandum of agreement to acquire 51% stake in Oriental Link Properties (M) Sdn Bhd from Lee Khoon Eng and Saw Yee Nong on October 16, 2020. Post completion, Oriental Link Properties (M) Sdn Bhd is held by Lee Khoon Eng (39.5% stake), Saw Yee Nong (9.5% stake) and MQ Technology Berhad (51% stake). The transaction is subject to due diligence on the business of Oriental and Oriental Link obtaining funding for project construction which is one of the conditions precedents. Failure to obtain the necessary funding. The execution of the MOA is not expected to have any material effect on the earnings, net assets and gearing of MQT for the current financial year ending June 30, 2021, but MQT expects a positive contribution to its earnings in the future should the Acquisition be finalized and successfully completed. The company intends to fund the proposed acquisition via internally generated fund. The proposed acquisition is not subject to the approval of the shareholders of MQ Tech. The Board of Directors' of MQ Tech announced that MQ Tech and Lee Khoon Eng had mutually agreed to further extend the share sale agreement Cut-Off Date from 24 March 2022 to 24 June 2022 for the parties to obtain/ fulfil the conditions precedent pursuant to the share sale agreement.

MQ Technology Berhad (KLSE:MQTECH) cancelled the acquisition of 51% stake in Oriental Link Properties (M) Sdn Bhd. from from Lee Khoon Eng and Saw Yee Nong on June 23, 2023.