Ann: MARKET UPDATE , page-2

Strange someone actually wants to buy this company.

Very odd deal structure. By not acquiring the shares of the company it leaves the cash in the company. Cash burn is highish due to the salaries of the executives and they will probably keep the money to acquire some new operating business.
In a direct takeover cash would go to other shareholders.
From the accounts there was not much cash left in the company and would have been insolvent without a cap raise or furhter revenue.
Yet another strange turn.

Only info I could find about the acquiring company
http://announcements.bursamalaysia.com/EDMS/edmswebh.nsf/all/482576120041BDAA4825787200352D7C/$File/Announcement-Investment%20Agreement.pdf

Maybe this is them
http://www.myagathis.com/contact.htm