The Board of Directors of O&C Resources Berhad (“OCR” or the “Company”) wishes to announce that the Company has today, 26 July 2016 acquired 70 ordinary shares of RM1.00 each representing 70% equity interest in the capital of Pangkal Teguh Sdn. Bhd. (“PTSB”) for a cash consideration of RM70.00 from the following parties:-

Consequently PTSB became a 70% owned subsidiary of OCR.

The remaining 30% equity interest of PTSB is held by Encik Abdul Hamid Bin Busu who is not a person connected with the Directors or Substantial Shareholders of OCR.

PTSB was incorporated in Malaysia on 12 April 2011 with an issued and paid up share capital of RM100.00 divided into 100 ordinary shares of RM1.00 each. PTSB has not commenced any business operation since the date of its incorporation. The intended principal activities of PTSB will be in the business of construction, project management, real estate etc. 

In addition, none of the Directors and Substantial Shareholders or persons connected with the Directors or Substantial Shareholders of OCR has any interest, direct or indirect in the aforesaid acquisition.

This announcement is dated 26 July 2016.