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 CS Laundry System Sdn Bhd, a wholly-owned subsidiary company of BCM (“CS Laundry”) had on 18 April 2019 acquired one (1) ordinary share from Yap Kian Mun, representing 100% equity interest in Century Pavilion Sdn Bhd (Company No. 1315338-A) (“Century Pavilion”), at a total cash consideration of RM1.00 ( “Proposed Acquisition”)

Following the completion of the Proposed Acquisition, Century Pavilion would become a direct wholly-owned subsidiary of CS Laundry. As a result, Century Pavilion has become an indirect wholly-owned subsidiary of BCM.

2.           INFORMATION ON CENTURY PAVILION 

Century Pavilion was incorporated on 22 February 2019 as a private limited company in Malaysia under the Companies Act, 2016. As of the date of this announcement, the issued share capital of the Company is RM1.00 comprising of 1 ordinary share.  The intended principal activity of Century Pavilion is to carry on the business of general trading. Century Pavilion has not commenced business since its incorporation.

The Directors of Century Pavilion are Hew Chun Shun and Lim Jit Wei. The shareholder of Century Pavilion is a follows:-

3.           RATIONALE OF THE PROPOSED ACQUISITION

The Proposed Acquisition is intended to allow the Group to expand its future service offerings to include the provision of commercial laundry services.

4.           FINANCIAL EFFECTS OF THE PROPOSED ACQUISITION  

The Proposed Acquisition 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 Proposed Acquisition, except for Hew Chun Shun and Lim Jit Wei, the Directors and substantial shareholders of BCM, who are also the Directors of Century Pavilion.

6.           STATEMENT BY DIRECTORS

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

7.           APPROVAL REQUIRED

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

This announcement is dated 18 April 2019.