1.           INTRODUCTION

Pursuant to Rule 9.19(24) of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad. The Board of Directors of BCM Alliance Berhad (“BCM” or “the Company”) wishes to announce that the Company had on 8 April 2019 incorporated Wellness Gate Sdn. Bhd. (Company No. 1321109-M) (“Wellness Gate”), a new wholly-owned subsidiary in Malaysia under the Companies Act, 2016 (hereinafter referred to as “Incorporation”).

2.           INFORMATION OF WELLNESS GATE

Wellness Gate was incorporated on 8 April 2019 with an issued share capital of RM10,000.00 comprising 10,000 ordinary shares.

The intended principal activity of Wellness Gate is to carry on the business of investment holdings. The Directors of Wellness Gate are Mr. Hew Chun Shun and Mr. Chung Eng Lam. The shareholder of Wellness Gate is as follows:-

3.           RATIONALE OF THE INCORPORATION

The Incorporation is mainly to facilitate the expansion of new business activities of the Group. 

4.           FINANCIAL EFFECTS OF THE INCORPORATION

The Incorporation will not have any material impact on the earnings per share, net assets per share, gearing and share capital and substantial shareholders’ shareholding of the Company for the financial year ending 31 December 2019.

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 Incorporation, except for Mr. Hew Chun Shun and Mr. Chung Eng Lam, the Directors and substantial shareholders of BCM, who are also the Directors of Wellness Gate.

6.           STATEMENT BY BOARD OF DIRECTORS

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

7.           APPROVAL REQUIRED

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

This announcement is dated 8 April 2019.