Protasco Berhad (“Company” or “PB”) wishes to announce that Ikram Infrastructure Asset Management Sdn. Bhd. (“IIAM”), 100% owned by Kumpulan Ikram Sdn. Bhd. (“KISB”), which in turn a wholly owned subsidiary of the Company, has become a 30% owned associate company following the allotment of additional shares of IIAM to new shareholders.

Its name has been changed to Ikram Engineering Consulting Sdn. Bhd. with effect from 5 July 2016, the date of the Certificate of Change of Name issued by the Companies Commission of Malaysia.

IIAM, now known as Ikram Engineering Consulting Sdn. Bhd. (“IEC”) used to have minimum business activities is now planned to provide non-physical consultancy services upon the completion of restructuring exercise.   

The restructuring does not expect to have any material effect on net assets per share, gearing and share capital of the Company for the financial year ending 31 December 2016.

None of the directors and/or major shareholders of the Company and/or persons connected to them have any interest, direct or indirect, in the aforesaid restructuring and allotment of shares.