September 19, 2013: Singapore Stock Exchange-listed, Albedo Group has agreed to acquire Reflections Oasis from Infinite Rewards, a company controlled by Malaysian businessman, Danny Tan for nearly $621 million. Albedo will pay for the acquisition by issuing new shares to Infinite Rewards. As a result of the transaction, Mr. Tan’s Infinite Rewards will own 95 percent of Albedo. As an integrated metals mining and processing company, the purchase of Reflections Oasis is intended to diversify Albedo into property development. Reflections Oasis is in the process of buying land plots in the sought-after, Iskandar region of Malaysia.