NVBA Petaling Jaya BC Sdn Bhd (PJBC) and Stark Events Sdn Bhd have both accepted letters of intent (LOI) from Managepay for proposed acquisitions of 24% in PJBC for RM155,000, and 29.71% in Stark Events for RM45,000. Following the acquisitions which will cost a total of RM740,000, Managepay will own a 60% stake in PJBC and 59.92% stake in Stark Events. PJBC is primarily involved in badminton coaching, organising badminton competitions and sports facilities management, while Stark Events organises, promotes and manages sports events. Both capabilities of the sports app would allow the group to engage with communities that follow the trend of healthy living, Managepay said. Shares in Managepay closed up 0.5 sen at 21.5 sen today, on some 2.86 million shares traded.

Source: The Edge Markets March 06, 2017 11:48 UTC