General Announcement

17/08/2005

TRANSFER OF SHARES IN FARAWIDE SDN BHD HELD BY MALAYSIA BUILDING SOCIETY BERHAD

MALAYSIA BUILDING SOCIETY BERHAD

Type

Announcement
SubjectTRANSFER OF SHARES IN FARAWIDE SDN BHD HELD BY MALAYSIA BUILDING SOCIETY BERHAD

Contents :

    The Board of Directors of Malaysia Building Society Berhad (the Company) is pleased to announce that the Company had on 17 August 2005 disposed of its entire shareholding in Farawide Sdn Bhd (Farawide) comprising of two (2) ordinary shares to Sigmaprise Sdn Bhd (Sigmaprise) a wholly owned subsidiary of the Company for a cash consideration of RM2 only. (the Transfer Shares)

    The Companys investment cost in Farawide is RM2.00 . The Transfer Shares does not have any significant effect on the net tangible assets per share and the earnings of the Company and Group for the year ending 31 December 2005.

    Farawide was incorporated on 9 September 2000 with an authorised capital of RM100,000 comprising of 100,000 shares of RM1.00 each while its issued share capital consists of two (2) ordinary shares of RM1.00 each. Farawide has not commenced operations since the date of its incorporation.

    Sigmaprise was incorporated on 11 September 2000 with an authorised capital of RM50,000,000 comprising of 50,000,000 shares of RM1.00 each while its issued share capital consists of 42,800,002 ordinary shares of RM1.00 each.

    Farawide is expected to be utilized in furtherance of future strategic plans of Sigmaprise.

    The Directors of the Company further wish to announce that the transaction is in the best interest of the Company and that none of the Directors and/or major shareholders of the Company and none of the Directors of Farawide and Sigmaprise or persons connected thereto has any interest, direct or indirect in this transaction.

Announcement Info

Company NameMALAYSIA BUILDING SOCIETY BERHAD  
Stock Name MBSB
Date Announced17 Aug 2005  
CategoryGeneral Announcement
Reference NoMB-050817-34252

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