General Announcement for PLC

30/09/2016

OTHERS Transfer of shares held by the Company in a 90% owned subsidiary to a wholly owned subsidiary

KERJAYA PROSPEK GROUP BERHAD

Type Announcement
Subject OTHERS
Description 
Transfer of shares held by the Company in a 90% owned subsidiary to a wholly owned subsidiary

The Board of Directors of Kerjaya Prospek Group Berhad ("Company") wishes to announce that the Company had today executed the shares transfer of 270,000 ordinary shares of RM1.00 each in Kerjaya Machinery & Equipment Sdn. Bhd. (formerly known as Kerjaya Petroleum Sdn. Bhd.) (“KME”), representing 90% equity interest in KME to its wholly-owned subsidiary company, Advance Industries Sdn. Bhd. for a cash consideration of Ringgit Malaysia Two Hundred and Seventy Thousand (RM270,000.00) only. The remaining 10% equity interest in KME is held by En. Mohammad Nizar bin Chek who subscribed for the 30,000 shares at par on 9 August 2016.

 

The business activities of KME are provision of services relating to application/renewal of permits for operation of heavy machineries, service and maintenance of heavy machineries and leasing of heavy machineries.

 

The aforesaid would not have a material effect on the Group's earnings and net assets for the financial year ending 31 December 2016.

 

None of the Directors and substantial shareholders of the Company and persons connected to the Directors and substantial shareholders of the Company has any interest, direct or indirect, in the abovesaid transaction.

 

 

 

 

 



Announcement Info

Company Name KERJAYA PROSPEK GROUP BERHAD
Stock Name KERJAYA
Date Announced 30 Sep 2016
Category General Announcement for PLC
Reference Number GA1-26092016-00057


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