OTHERS TALIWORKS CORPORATION BERHAD ("TCB" OR "THE COMPANY") - INCORPORATION OF WHOLLY-OWNED SUBSIDIARIES
|Description||TALIWORKS CORPORATION BERHAD ("TCB" OR "THE COMPANY") - INCORPORATION OF WHOLLY-OWNED SUBSIDIARIES|
Pursuant to Paragraph 9.19(23) of Bursa Malaysia Securities Berhad Main Market Listing Requirements, the Board of Directors of TCB wishes to announce that:
1. On 2 October 2017, the Company had incorporated TE Overseas Ventures Sdn. Bhd. ("TOVSB") under the Companies Act, 2016 as its wholly-owned subsidiary; and
2. TOVSB had on the even date incorporated TE Overseas Ventures Pte. Ltd. ("TOVPL") under Companies Act (Chapter 50) of Singapore as its wholly-owned subsidiary.
Following the Incorporation, TOVSB and TOVPL become a direct and an indirect wholly-owned subsidiaries of TCB respectively.
INFORMATION OF TE OVERSEAS VENTURES SDN. BHD. AND TE OVERSEAS VENTURES PTE. LTD.
The total issued and paid-up capital of TOVSB is RM2.00 comprising two ordinary shares. The Directors of TOVSB are Mr Chin Soong Jin and Mr Wong Voon Leong. The intended principal activity of TOVSB is investment holdings.
The total issued and paid-up capital of TOVPL is SGD2.00 (equivalent to RM6.2176) comprising two ordinary shares. The Directors of TOVPL are Mr Chin Soong Jin, Mr Wong Voon Leong and Ms Lim Horng Ling. The intended principal activity of TOVPL is investment holdings.
The Incorporation is not expected to have any effect on share capital and substantial shareholders' shareholdings of TCB. It is also not expected to have any material effects on the earnings, net assets or gearing of TCB group for the financial year ending 31 December 2017.
DIRECTORS' AND MAJOR SHAREHOLDERS' AND/OR PERSONS CONNECTED WITH A DIRECTOR OR MAJOR SHARHOLDER'S INTERESTS
None of the Directors and/or major shareholders of TCB or person connected to them have any interest, direct or indirect, in the Incorporation.
This announcement is dated 2 October 2017.
Note: Based on the middle exchange rate of SGD1: RM3.1088 on 2 October 2017 as set out in the Bank Negara Malaysia's website, subject to rounding adjustment.