Protasco Berhad (“Protasco”) wishes to announce that Protasco Group has restructured HCM KI Engineering Sdn Bhd (“HCM KI”), a dormant company, which was 40% owned by the subsidiary of the Company, HCM Engineering Sdn Bhd.

Following the restructuring exercise, HCM KI, which is now known as Solarcap Sdn Bhd is  68% owned by Ikram Greentech Sdn Bhd, a wholly-owned subsidiary of the Company and will be venturing into renewable energy business.

The restructuring is not expected to have any material effect on the net assets and earnings of Protasco Group for the financial year ending 31 December 2019.