Wen Yao-Long entered into a conditional sale and purchase agreement to acquire Eucon Investment Holding Pte. Ltd. from Eucon Holding Limited (SGX:E27) for SGD 1 on December 30, 2016. Eucon Investment Holding Pte.

Ltd. reported net liabilities of SGD 5.14 million and net loss of SGD 9.95 million for the year ending, September 30, 2016. As reported on March 31, 2017, Oriental Straits Fund III, controlling shareholder of Eucon Holding is supportive of the transaction and has voted in favor of the transaction should shareholders' approval be required. The transaction is subject to approval of Singapore Exchange Securities Trading Limited and the approval of shareholders of Eucon Holding Limited if required by Singapore Exchange Securities Trading Limited.

The transaction is expected to close on April 30, 2017.