General Announcement

05/01/2004

Investment in new subsidiary, Shandong Changle Salcon Water Supply Company by Salcon Water (HK) Limited

SALCON BERHAD

Type

Announcement
SubjectInvestment in new subsidiary, Shandong Changle Salcon Water Supply Company by Salcon Water (HK) Limited

Contents :

Further to the earlier announcement to the Exchange on 22 December 2003, the Company wishes to inform that as at 1 January 2004, its wholly owned subsidiary, Salcon Water (HK) Limited has successfully fulfilled all the conditions required by the relevant China Authorities in relation to the incorporation of the Shangdong Changle Salcon Water Supply Company (SCSWS) and is now effectively the 75% equity shareholder in SCSWS. The remaining equity is held by the Changle County General Water Supply Company.


SCSWS has been granted a 50 year concession to construct, manage and operate the water production and distribution system including the sale, billing and revenue collection of water in Changle County, Shangdong Province.

Following the completion of this transaction, the Company will now utilise its expertise and experience in the water sector successfully to manage and operate all aspects of water production and distribution in the county.


Announcement Info

Company NameSALCON BERHAD  
Stock Name SALCON
Date Announced5 Jan 2004  
CategoryGeneral Announcement
Reference NoCU-040105-58075

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