MTD ACPI Engineering Berhad (KLSE:MTDACPI) entered into a heads of agreement to acquire Orangebeam Construction Sdn Bhd and Orangebeam Development Sdn Bhd from Putrajaya Perdana Berhad and Putra Perdana Development Sdn. Bhd. on July 10, 2019. The transaction is subject to approvals, consents, authorizations, permits or waivers of the relevant authorities or parties necessary or appropriate for and in connection with the undertaking, implementation and completion of the Proposed Acquisitions and all transactions contemplated there under, if required, within the period to be specified in the shares sale and purchase agreements. The shares sale and purchase agreement is expected to sign within three months from the date of heads of agreement or such other period as may be mutually agreed by the parties. The transaction is not subject to the approvals of the shareholders of MTD ACPI and any authorities. KAF Investment Bank Berhad acted as a financial advisor for MTD ACPI. MTD ACPI Engineering Berhad (KLSE:MTDACPI) cancelled the heads of agreement to acquire Orangebeam Construction Sdn Bhd and Orangebeam Development Sdn Bhd from Putrajaya Perdana Berhad and Putra Perdana Development Sdn. Bhd. on February 18, 2020.