Pursuant to paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Company wishes to announce that its wholly-owned subsidiary, TUSB, had on 8 July 2019 incorporated a private company limited by shares under the Companies Act 2016 known as Malakoff Radiance Sdn Bhd (“MRSB”).
MRSB was incorporated as the special purpose vehicle company to carry out the business of developing, financing, constructing, operating and maintaining photovoltaic (“PV”) solar projects.
The present share capital of MRSB is Ringgit Malaysia Two (RM2.00) only comprising two (2) ordinary shares which have been issued and fully paid-up at a subscription price of RM1.00 each by TUSB. As a result of the said subscription of shares in MRSB, MRSB has become an indirect subsidiary of the Company through its wholly-owned subsidiary, TUSB.
The incorporation of MRSB will not have any material effect on the share capital, substantial shareholders’ shareholdings, earnings per share and net assets of the Company for the financial year ending 31 December 2019.
None of the Directors and/or major shareholders and/or persons connected to them has any interest, direct or indirect, in the incorporation of MRSB.
This announcement is dated 8 July 2019.