Protasco Berhad (“Protasco” or “Company”) wishes to announce that the Company has on 3 April 2014 incorporated a wholly-owned subsidiary, Protasco Venture Partners Inc (“PVP”), a private limited company incorporated in the British Virgin Islands (“Incorporation”).  The Certificate of Incorporation in respect of the Incorporation was received by Protasco on 7 April 2014.

PVP has an authorised share capital of US$100,000 divided into 1,000,000,000 ordinary shares of US$0.0001 each, of which all have been issued as fully paid-up.

The intended principal activities of PVP are investment holdings and shall function as Protasco’s in-house private equity vehicle.  PVP shall focus on investment, project incubation, merger and acquisition and corporate dealing exercises.

Following the Incorporation, PVP had on 7 April 2014, acquired a shelf company, namely Jalur Saujana Sdn. Bhd. (“JDSB”) (“Acquisition”).  JDSB was incorporated in Malaysia under the Companies Act, 1965 on 26 March 2014 with an authorised share capital of RM400,000 comprising 400,000 ordinary shares of RM1.00 each, of which 2 ordinary shares of RM1.00 has been issued as fully-paid up share capital.  JDSB’s intended principal activity is to undertake investment proposals for Protasco Group.

Arising from the Acquisition, JDSB is now a wholly-owned subsidiary of PVP, which in turn a wholly-owned subsidiary of Protasco.

The Incorporation and Acquisition will not have any material impact on net assets, earnings and gearings of Protasco Group for the financial year ending 31 December 2014.

None of the directors and/or major shareholders of Protasco and/or persons connected to the directors and/or major shareholders of Protasco have any interests, direct or indirect, in the Acquisition.

This announcement is dated 7 April 2014.