1.            INTRODUCTION

The Board of Directors of BCM wishes to announce that the Company had on 5 February 2021 acquired twenty thousand (20,000) ordinary shares in BC Medicare Sdn. Bhd. [Registration No. 202101001086 (1401384-X)] (“BC Medicare”) at a total cash consideration of RM20,000.00 (Ringgit Malaysia Twenty Thousand) only (“the Acquisition”).

Following the completion of the Acquisition, BC Medicare would become a direct wholly-owned subsidiary of BCM.

2.           INFORMATION OF BC MEDICARE  

BC Medicare was incorporated on 11 January 2021 with an issued share capital of RM20,000.00 comprising 20,000 ordinary shares. BC Medicare has not commenced business since its incorporation. The Directors are Mr Hoo Swee Guan and Mr Ho Kee Wee and the Shareholder is BCM.

The intended principal activities of BC Medicare are to distributes medical related products such as whole-body disinfectant system, Covid-19 swab test kit, Covid-19 first aids box, AI temperature measure system, washer disinfector, sterilizer, surgical table, surgical light, medical pendant, sonic cleaner, sterile assurance products, wound care products and to venture into any other medical related business through partnerships and collaborations.

3.           RATIONALE OF THE ACQUISTION

               The Acquisition is mainly to facilitate BCM’s Group strategic plan to expand its healthcare business segment.

4.           FINANCIAL EFFECTS OF THE ACQUISITION

The Acquisition will not have any material effect on the issued share capital of the Company and the substantial shareholders’ shareholding. The Acquisition also does not have any material effect on earnings per share nor net assets per share of the Group for the financial year ending 30 December 2021.

5.           DIRECTORS’ INTERESTS AND/OR SUBSTANTIAL SHAREHOLDERS’ INTERESTS AND/OR PERSON CONNECTED TO THEM

None of the Directors and/or substantial shareholders of the Company and/or persons connected with Directors and/or major shareholders has any interest, direct or indirect, in the Acquisition.

6.           STATEMENT BY BOARD OF DIRECTORS

The Board of Directors of the Company, having considered all aspects of the Acquisition, is of the opinion that the Acquisition is in the best interest of BCM Group.

7.           APPROVAL REQUIRED

               The Acquisition is not subject to the approval of the shareholders of the Company and any other regulatory authorities in Malaysia.

This announcement is dated 5 February 2021.