Contents :
ACQUISITION OF SHARES IN PMB FACADE TECHNOLOGY (S) PTE LTD BY PMB FACADE TECHNOLOGY SDN BHD
PRESS METAL BERHAD ( PMB ) is pleased to announce that its 51% owned subsidiary, PMB Facade Technology Sdn Bhd ( PMBF ) has acquired the following ordinary shares of S$1.00 each in PMB Facade Technology (S) Pte Ltd:-
See TABLE 1
Information on PMB Facade Technology (S) Pte Ltd
PMB Facade Technology (S) Pte Ltd ( PMBFTS ) was incorporated on 20 July 2000. The current Authorised Share Capital of PMBFTS is S$100,000.00 divided into 100,000 ordinary shares of S$1.00 each and the issued and paid-up shares capital is S$25,000.00 comprising 25,000 ordinary shares of S$1.00 each.
The Directors of PMBFTS are Messrs Koon Poh Ming and Ng Swee How.
The principal activity of PMBFTS is supplying, installing and fixing of all kinds of furnishings and fixture and to provide interior decorating consultancy services.
Rationale
The rationale for the acquisition of PMBFTS is to expand our business in designing, fabricating, manufacturing and installing of aluminium curtain wall and cladding systems in Singapore.
Financial Effects
The contribution of PMBFTS towards the Groups results for the year ended 31 December 2000 is not expected to be significant.
Directors and Substantial Shareholders Interest
Mr Koon Poh Ming who is a Director of PMB, PMBF and PMBFTS, and substantial shareholder of PMB, is deemed interested in the acquisition by virtue of his common directorships in PMB, PMBF and PMBFTS, and his shareholding in PMB.
Dato Koon Poh Keong, Mr Kuan Shin, Mr Koon Poh Kong, Mr Koon Poh Weng, Mr Kuan Poh Fatt, Mr Koon Poh Tat and Mr Kwan Yun Hong @ Kuan Onn Hing who are Directors and shareholders of PMB, are deemed interested in the acquisition by virtue of them being brothers of Mr Koon Poh Ming.
Mr Kwan Ching Hing, a substantial shareholder of PMB, is deemed interested in the acquisition by virtue of him being the brother of Mr Koon Poh Ming.
Madam Tan Kim Hiok who is a substantial shareholder of PMB, is deemed interested in the acquisition by virtue of her being the sister-in-law of Mr Koon Poh Ming.
Save as disclosed above, none of the other Directors or substantial shareholders of PMB or persons connected to Directors or substantial shareholders have any interest, direct or indirect, in the acquisition of PMBFTS by PMBF.
SUBSCRIPTION OF ADDITIONAL SHARES IN PMB-CYBERWALL LIMITED BY PMB FACADE TECHNOLOGY SDN BHD
PRESS METAL BERHAD ( PMB ) is pleased to announce that its 51% owned subsidiary, PMB Facade Technology Sdn Bhd ( PMBF ) has subscribed for the following new ordinary shares of HK$1.00 each in PMB-Cyberwall Limited ( PMBC ) to be paid as and when calls are made, whereby the shareholding of PMBF in PMBC remained at 70% of the total issued and paid up share capital of PMBC:-
See TABLE 2
Information on PMB-Cyberwall Limited
PMBC was incorporated on 11 February 2000. The Authorised Share Capital of PMBC was increased from HK$1,000,000.00 divided into 1,000,000 ordinary shares of HK$1.00 each to HK$20,000,000.00 divided into 20,000,000 ordinary shares of HK$1.00 each on 12 March 2001. On 12 March 2001, the issued share capital has been increased to HK$13,000,000.00 comprising 13,000,000 ordinary shares of HK$1.00 each.
The Directors of PMBC are Mr Koon Poh Ming and Mr Mo Po Ping, Henry.
The principal activity of PMBC is construction, trading and computer related businesses.
Rationale
The rationale for the increase of share capital of PMBC is mainly for working capital and will enable PMBC to further expand its core business.
Financial Effects
The contribution of PMBC towards the Groups results for the year ending 31 December 2001 is not expected to be significant. However, barring unforseen circumstances, the company is expected to generate positive income in future.
Directors and Substantial Shareholders Interest
Mr Koon Poh Ming who is a Director of PMB, PMBF and PMBC, and substantial shareholder of PMB, is deemed interested in the subscription by virtue of his common directorships in PMB, PMBF and PMBC, and his shareholding in PMB.
Dato Koon Poh Keong, Mr Koon Poh Weng, Koon Poh Tat, Mr Kuan Shin, Mr Koon Poh Kong, Mr Kuan Poh Fatt and Mr Kwan Yun Hong @ Kuan Onn Hing who are Directors and shareholders of PMB, are deemed interested in the subscription by virtue of them being brothers of Mr Koon Poh Ming.
Mr Kwan Ching Hing, a substantial shareholder of PMB, is deemed interested in the subscription by virtue of him being the brother of Mr Koon Poh Ming.
Madam Tan Kim Hiok who is a substantial shareholder of PMB, is deemed interested in the subscription by virtue of her being the sister-in-law of Mr Koon Poh Ming.
Save as disclosed above, none of the other Directors or substantial shareholders of PMB or persons connected to Directors or substantial shareholders have any interest, direct or indirect, in the subscription of PMBC by PMBF.
TABLE 1
Date of Acquisition | Manner of Acquisition | No. of ordinary shares of S$1.00 each | Cash Consideration (S$) | Cumulative % of Shareholding in PMBFTS |
| 05.09.2000 | Subscription of new ordinary shares | 6,993 | 6,993.00 | 69.9 |
| 22.09.2000 | Acquire from the First Subscriber, Mr Koon Poh Ming | 7 | 7.00 | 70.0 |
| 15.10.2000 | Subcription of new ordinary shares | 10,500 | 10,500.00 | 70.0 |
 | | 17,500 | 17,500.00 | |
TABLE 2
Date of Subscription | No. of ordinary shares of HK$1.00 each | Cash consideration to be paid (HK$) |
05.01.2001 | 693,000 | 693,000.00 |
12.03.2001 | 8,400,000 | 8,400,000.00 |
| 9,093,000 | 9,093,000.00 |