The Company wishes to announce that its subsidiary, HCM Engineering Sdn Bhd has incorporated a wholly own subsidiary in Sri Lanka, known as H C M Builders Lanka (Private) Limited (“H C M Builders”) with a registered capital of 100,000 Sri Lankan Rupee (approximately RM2,700).
The intended business activities of H C M Builders are mainly to undertake construction and infrastructure works in Sri Lanka.
The investment in H C M Builders is not expected to have a material effect on the earnings or net assets of the Protasco Group for the year ending 31 December 2017.