SINGAPORE (June 6): Sports and lifestyle good retailer VGO Corp has entered into an agreement to acquire a consultancy company that also has a property development business.

The value of the acquisition, which might result in a reverse takeover, shall be determined at a later date.

The move is aimed at diversifying into a new area of growth and will aid the loss-making company to comply with the Minimum Trading Price (MTP) requirement.

VGO Corp identifies the vendors of the target company, Sky Win Management Consultancy, as Tan June Teng, Colin and Tan Ping Huang, Edwin.

The company was placed on the MTP watch list on March 3 and has 36 months to raise its share price to at least 20 cents.

It last closed May 23 at 12.8 cents.