Yong Tai Berhad (KLSE:YONGTAI) entered into a memorandum of understanding to acquire Impression Land from Admiral City Sdn Bhd on August 3, 2015. Yong Tai Berhad (KLSE:YONGTAI) entered into an agreement to acquire Impression Land from Admiral City Sdn Bhd for MYR 37 million on October 26, 2015. As of August 25, 2017, Yong Tai Berhad agreed to acquire Impression Land from Admiral City Sdn Bhd for MYR 33.9 million. The adjustment is made pursuant to the reduction in the size of the Impression Land from 740,520 square feet to 677,685.04 square feet under the new title of the Impression Land. Yong Tai Berhad will pay a deposit of MYR 3.7 million, being 10% of purchase price, on execution of MOU and balance within 3 months from unconditional date. The deposit was funded by the funds raised from a special issue of Yong Tai Berhad shares and balance of the purchase price will be funded from part proceeds of special issue and placement. The MOU will remain in force until the expiry of two months. In relation to the transaction, Yong Tai Berhad entered into a development agreement to develop the Melaka JV Land. An earnest deposit of MYR 3.7 million has been paid to Admiral City. In a related transactions, Yong Tai Berhad (KLSE:YONGTAI) also signed a memorandum of understandings to acquire PTS Impression Sdn Bhd., Yuten Development Sdn Bhd, Terrawest Resources Sdn Bhd and Land & Build Sdn Bhd. Yong Tai will finance the transaction from the proceeds of approximately MYR 208.5 million (CNY 336) million from the subscription. The deal is subject to completion of due diligence by Yong Tai Berhad, approval of Yong Tai Berhad' shareholders, approval by State, and is conditional upon development of Melaka JV Land. As on September 1, 2016, shareholders of Yong Tai Berhad approved the transaction. On October 24, 2016, Yong Tai Berhad and Admiral City executed a side letter to extend the period to fulfill the conditions precedent of the transaction for another three months until January 26, 2017. As on January 26, 2017, Yong Tai Berhad and Admiral City executed a side letter to extend the period to fulfill the conditions precedent of the transaction for another three months until April 26, 2017. On April 26, 2017, Yong Tai Berhad and Admiral City executed a side letter to extend the period to fulfill the conditions precedent of the transaction for another three months until July 26, 2017. On July 26, 2017, Yong Tai and Admiral City executed a side letter to extend the period to fulfill the conditions precedent of the agreement for another one month until August 26, 2017. As per announcement on August 25, 2017, all conditions precedent under the agreement have been fulfilled. As on December 26, 2017, date of completion has been extended to January 5, 2018. AmInvestment Bank and FHMH Corporate Advisory Sdn. Bhd. acted as financial advisor for Yong Tai Berhad. Yong Tai Berhad (KLSE:YONGTAI) completed the acquisiiton of Impression Land from Admiral City Sdn Bhd on January 5, 2018.