OTHERS INSTACOM GROUP BERHAD ("INSTACOM OR THE "COMPANY") - Incorporate of a Subsidiary Company
|INSTACOM GROUP BERHAD|
|Admission Sponsor||RHB Investment Bank Bhd|
|Sponsor||Same as above|
|Description||INSTACOM GROUP BERHAD ("INSTACOM OR THE "COMPANY")|
- Incorporate of a Subsidiary Company
The Board of Directors of Instacom wishes to announce that the Company had on 18 February 2015 acquired 51% interest in a newly incorporated subsidiary company known as Instacom Group SA (company name is subject to approval by the Companies and Intellectual Property Commission, South Africa) in Cape Town, South Africa under the Companies Act no.71, 2008 of South Africa.
Instacom Group SA is a private limited company with a paid-up share capital of South African Rand ("ZAR")1,200 (approximately RM400) comprising 1,200 ordinary shares of ZAR1 each. As at the date of this announcement, Instacom Group SA is 51% owned by Instacom and the remaining 49% is held by Victory Parade Trading 182 (Pty) Ltd ("Victory Parade"). The registered directors of Instacom Group SA are Mr Rudowaan Baderoen, Ms Anne Kung and Mr Choo Seng Choon. The intended principal activities of Instacom Group SA are to undertake telecommunication infrastructure development and to be principally engaged in the telecommunication engineering and services businesses.
The incorporation of Instacom Group SA is not expected to have any material effect on the earnings or net assets of the Instacom Group for the financial year ending 31 December 2015.
Ms Anne Kung, being the director and substantial shareholder of Instacom and Mr Choo Seng Choon, being the director of Instacom have declared their interests by virtue of the fact that they are the first directors of Instacom Group SA.
Apart from the above, none of the other Directors and/or major shareholders of the Company or persons connected to them have any interest, direct or indirect, in the aforesaid incorporation.
|Company Name||INSTACOM GROUP BERHAD (ACE Market)|
|Date Announced||27 Feb 2015|