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General Announcement

09/10/2014

OTHERS OVERSEA ENTERPRISE BERHAD ("OVERSEA") INCORPORATION OF TAIWAN HAEWAYTIAN LIMITED, A WHOLLY-OWNED SUBSIDIARY OF RESTORAN OVERSEA JV (INTERNATIONAL) SDN. BHD., WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF OVERSEA

OVERSEA ENTERPRISE BERHAD

Type

Announcement

Subject

OTHERS

Description

OVERSEA ENTERPRISE BERHAD ("OVERSEA")
INCORPORATION OF TAIWAN HAEWAYTIAN LIMITED, A WHOLLY-OWNED SUBSIDIARY OF RESTORAN OVERSEA JV (INTERNATIONAL) SDN. BHD., WHICH IN TURN IS A WHOLLY-OWNED SUBSIDIARY OF OVERSEA

The Board of Directors of Oversea Enterprise Berhad ("Oversea") is pleased to announce that one of its wholly-owned subsidiary, RESTORAN OVERSEA JV (INTERNATIONAL) SDN. BHD. (OJV) had on 8 October 2014 incorporated a wholly-owned subsidiary in Taiwan, namely Taiwan Haewaytian Limited.

1. Details of TAIWAN HAEWAYTIAN LIMITED ("THL")

THL was incorporated in Taiwan on 8 October 2014 under the Company Act of Taiwan with fully paid up capital of NT$1,000,000.00 which is equivalent to RM118,500. THL is a wholly-owned subsidiary of OJV.

The directors of THL are Mr Yu Tack Yuen and Mr Yu Tack Tein. THL is currently dormant and has yet to commence operations.

2. Rationale for the incorporation of THL

THL will be utilized as a vehicle for the Company's future business expansion.

3. Financial Effects

Earnings & Net Assets

The incorporation of THL is not expected to have any material effect on the earnings per share and net assets per share of the Group for the financial year ending 31 March 2015 as THL is currently dormant.

Share Capital

The incorporation of THL has no effect on the share capital of the Company as the incorporation cost was satisfied entirely by cash generated internally.

4. Approval Sought

The incorporation of THL is not subject to the approval of the shareholders of the Company or from any relevant authorities.

5. Directors' and Substantial Shareholders' Interest

None of the Directors and/or substantial shareholders of the Company or any persons connected to them have any direct or indirect interest in the incorporation of THL.

6. Directors' Recommendation

The Directors of Oversea, having considered all aspect of the incorporation of THL, are of the opinion that the said incorporation is in the best interest of the Company.

7. Statement by Audit Committee

The Audit Committee of Oversea, having seen and reviewed the rationale for the incorporation of THL, is satisfied and is of the opinion that the said incorporation of THL is not detrimental to the shareholders of Oversea.

This announcement is dated 9 October 2014.

Announcement Info

Company Name	OVERSEA ENTERPRISE BERHAD (ACE Market)
Stock Name	OVERSEA
Date Announced	9 Oct 2014
Category	General Announcement
Reference No	CK-141009-45527

Related Announcements for OVERSEA

Date	Title
17/04/2015	NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS): FUND RAISING OVERSEA ENTERPRISE BERHAD ("OVERSEA" OR THE "COMPANY") PROPOSED SPECIAL BUMIPUTERA ISSUE OF 35,000,000 NEW ORDINARY SHARES OF RM0.20 EACH IN OVERSEA TO BUMIPUTERA INVESTORS TO BE IDENTIFIED AND/OR APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY ("PROPOSED SPECIAL BUMIPUTERA ISSUE")
01/04/2015	OTHERS ACQUISITION OF ENTIRE SHARE CAPITAL OF RICH TASTES (CENTREPOINT) SDN. BHD.(“RTC”), A 65% EQUITY SUBSIDIARY OF RESTORAN OVERSEA JV (INTERNATIONAL) SDN. BHD. (906990-M) ("ROJV"), A WHOLLY OWNED SUBSIDIARY OF OVERSEA ("ACQUISITION")
13/03/2015	NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS): FUND RAISING OVERSEA ENTERPRISE BERHAD ("OVERSEA" OR THE "COMPANY") PROPOSED SPECIAL BUMIPUTERA ISSUE OF 35,000,000 NEW ORDINARY SHARES OF RM0.20 EACH IN OVERSEA TO BUMIPUTERA INVESTORS TO BE IDENTIFIED AND/OR APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY ("PROPOSED SPECIAL BUMIPUTERA ISSUE")
24/02/2015	NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS): FUND RAISING OVERSEA ENTERPRISE BERHAD ("OVERSEA" OR THE "COMPANY") PROPOSED SPECIAL BUMIPUTERA ISSUE OF 35,000,000 NEW ORDINARY SHARES OF RM0.20 EACH IN OVERSEA TO BUMIPUTERA INVESTORS TO BE IDENTIFIED AND/OR APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY ("PROPOSED SPECIAL BUMIPUTERA ISSUE")
05/02/2015	NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS): FUND RAISING OVERSEA ENTERPRISE BERHAD ("OVERSEA" OR THE "COMPANY") PROPOSED SPECIAL BUMIPUTERA ISSUE OF 35,000,000 NEW ORDINARY SHARES OF RM0.20 EACH IN OVERSEA TO BUMIPUTERA INVESTORS TO BE IDENTIFIED AND/OR APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY ("PROPOSED SPECIAL BUMIPUTERA ISSUE")
08/08/2014	OTHERS Oversea Enterprise Berhad ("Oversea" or the "Company") Proposed Renewal of Shareholders' Mandate and New Shareholders' Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature ("Proposed Shareholders' Mandates")
08/08/2014	OTHERS OVERSEA ENTERPRISE BERHAD ("OVERSEA" OR THE "COMPANY") - PROPOSED SHARE BUY-BACK OF UP TO TEN PERCENT (10%) OF THE ISSUED AND PAID-UP SHARE CAPITAL OF OVERSEA
27/06/2014	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS OVERSEA ENTERPRISE BERHAD (317155-U) (“OVERSEA” OR THE “COMPANY”) ACQUISITION OF PROPERTIES BY RESTORAN TSIM TUNG SDN. BHD. (673332-U) (“RTTSB”), A WHOLLY-OWNED SUBSIDIARY OF OVERSEA
20/06/2014	DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS): DEALINGS OUTSIDE CLOSED PERIOD
20/06/2014	DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS): DEALINGS OUTSIDE CLOSED PERIOD