Date : 16 August 2011
OTHERS TALIWORKS CORPORATION BERHAD (“Taliworks” or “the Company”) - Incorporation of New Subsidiary : Taliworks (Yinchuan) Wastewater Treatment Co Ltd
|TALIWORKS CORPORATION BERHAD|
|Description||TALIWORKS CORPORATION BERHAD (“Taliworks” or “the Company”) - Incorporation of New Subsidiary : Taliworks (Yinchuan) Wastewater Treatment Co Ltd|
Further to our announcements on 25th August 2010, 1st September 2010, 6th September 2010 and 27th January 2011, the Board of Directors of Taliworks wishes to update the Exchange that Taliworks International Limited, a wholly-owned subsidiary of the Company has incorporated a wholly-owned subsidiary in the People’s Republic of China under the name of Taliworks (Yinchuan) Wastewater Treatment Co Ltd (“Taliworks (Yinchuan)”).
The registered capital of Taliworks (Yinchuan) is USD48 million and its issued and paid-up capital is USD30.8 million. Its principal activities are to invest, construct, operate and maintain Yinchuan City’s first (1st), second (2nd), third (3rd) and fourth (4th) waste water treatment plants on a Takeover-Operate-Transfer basis, including waste water treatment and recycled water treatment facilities and the facilities required for the sale of recycled water.
The incorporation of Taliworks (Yinchuan) will not have any impact on the share capital and substantial shareholders’ shareholdings in Taliworks nor will it have any material effect on the Company’s net assets, earnings and gearing for the financial year ending 31st December 2011.
None of the Directors and/or substantial shareholders of Taliworks and/or persons connected to them have any interest, direct or indirect, in the said incorporation.
This announcement is dated 16th August 2011.
|Company Name||TALIWORKS CORPORATION BERHAD|
|Date Announced||16 Aug 2011|