Tiong Toh Siong Enterprises Sdn Bhd made an offer to acquire remaining 31.42% stake in Subur Tiasa Holdings Berhad (KLSE:SUBUR) for MYR 38.5 million on August 30, 2021. Tiong Toh Siong Enterprises Sdn Bhd will pay MYR 0.65 per share in cash. Tiong Toh Siong Enterprises Sdn Bhd has sufficient financial resources to satisfy the full acceptance of the offer. Tiong Toh Siong Enterprises Sdn Bhd intends to maintain the listing status of SUBUR on the Main Market of Bursa Securities. The offer is not conditional on minimum level of acceptances. the Offeror does not intend to invoke the provisions of Section 222(1) of the CMSA to compulsorily acquire any remaining Offer Shares for which valid acceptances have not been received. As of September 30, 2021, the Offeror has received acceptances for a total of 70 Offer Shares. The Offer will remain open for not less than 21 days from offer posting date or such date in extended. The Offer will remain open for acceptance October 11, 2021. If the Offer is revised after the Posting Date, the Offer will remain open for acceptances for a period of at least 14 days from the date of posting of the written notification of the revision to the Holders. The Offer shall be deemed to be closed prior to the Closing Date when the Offeror receives acceptances for all the Offer Shares and the Offeror has made an announcement. Kenanga Investment Bank Berhad (KLSE:KENANGA) acted as financial advisor to Tiong Toh Siong Enterprises Sdn Bhd. DWA Advisory Sdn Bhd acted as the financial advisor to Subur Tiasa Holdings Berhad. Tiong Toh Siong Enterprises Sdn. Bhd. cancelled the acquisition of remaining 31.42% stake in Subur Tiasa Holdings Berhad (KLSE:SUBUR) on September 30, 2021. As of September 30, 2021, board of Subur Tiasa Holdings is of the view that Offer is not fair and not reasonable, and accordingly, recommends the shareholders to reject the Offer. Kenanga Investment Bank Berhad wishes to announce that Kenanga IB, being the principal adviser to the Offeror, has dealt in Subur Tiasa Holdings Berhad Shares for its proprietary account on October 4, 2021. As of October 11, 2021, 0% acceptance was received.