Singapore: AYS Ventures Bhd’s associate company, 3HA Capital Pte Ltd, alongside its concerted parties, has successfully acquired more than 90 percent of the equity interest in CosmoSteel Holdings Ltd, a company listed on the Singapore Exchange (SGX).

According to BERNAMA News Agency, AYS Ventures’ wholly-owned subsidiary, Ann Yak Siong (Singapore) Pte Ltd, holds a 14.9 percent interest in 3HA Capital. In a recent filing with Bursa Malaysia, it was detailed that Evolve Capital Advisory Pte Ltd, representing 3HA Capital, procured an additional 22,500 shares in CosmoSteel on July 31, 2025, at a price of S$0.25 per share via SGX. The acquisition resulted in 3HA Capital and its concerted parties owning approximately 90.72 percent of CosmoSteel’s issued shares.

This significant ownership milestone entitles 3HA Capital to invoke its right under Section 215(1) of the Companies Act to compulsorily acquire the remaining shares from shareholders who did not accept the offer, at the final offer price. Consequently, CosmoSteel no longer satisfies SGX’s requirement of maintaining at least a 10 percent public shareholding, leading to the suspension of its share trading at the conclusion of the offer.

The offer, which had been extended previously, is scheduled to close at 5.30 pm (Singapore time) today, August 1, 2025.