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The Board of Directors of NPC Resources Berhad ('NPC" or "the Company" ) wishes to announce that NPC has on 11
September 2003 approved the acquisition by its wholly owned subsidiary, Growth Enterprise Sdn Bhd, of 300,000 ordinary shares of RM1/- each representing the balance of the 15% equity interest in the capital of Berkat Setia Sdn Bhd, a subsidiary which is effectively 95.5% owned by NPC, from Telupid Kelapa Sawit Sdn Bhd, the 70% owned subsidiary of NPC, for a total cash consideration of RM1,680,876/-
After the above acquisition, Berkat Setia Sdn Bhd shall effectively become a wholly owned subsidiary of NPC.
The above acquisition is not expected to have any material effect on the net tangible assets and earnings of NPC for the financial year ending 31 December 2003.
None of the Directors and/or substantial shareholders of NPC and persons connected with them have any interest, direct or indirect in the above acquisition.