Protasco Berhad (“Company”) wishes to announce that its wholly owned subsidiary, Protasco Infra Sdn Bhd had disposed of its entire equity interest in its subsidiary in China, Hainan Protasco Engineering Co. Ltd. (“HPE”) which has been inactive since 2013, for a total cash consideration of RMB100,000.  

The disposal of HPE will not have any material effect on the earnings and net assets of the Protasco Group for the financial year ending 31 December 2016.

None of the Directors and substantial shareholders of the Company or any persons connected to them has any interest, direct or indirect, in the disposal.