The Board of Directors is pleased to announce that Sunzen Eservices Sdn. Bhd. (SESB), a wholly-owned subsidiary of the Company, had on 22 January 2015 acquired 100 ordinary shares in Sunzen International Investment Limited (SIIL) from Silk Nominees Limited, representing 100% of the total issued share capital of SIIL for a total cash consideration of HKD100 (Acquisition).
In consequence thereof, SIIL shall become a wholly-owned subsidiary of SESB, which in turn is a wholly-owned subsidiary of the Company.
SIIL was incorporated as a limited company in Hong Kong on 9 January 2015. The issued share capital of SIIL is HKD100 comprising 100 ordinary shares and the business activity of SIIL is investment and project management.
The sole Director of SIIL is Mr Hong Choon Hau.
The Acquisition would not have material effect on the Groups earnings per share, net assets per share, gearing, share capital and substantial shareholders shareholding for the financial year ending 31 December 2015.
None of the Directors and/or Major Shareholders of the Company and/or persons connected to them has any interest, direct or indirect, in the Acquisition.
This announcement is dated 23 January 2015.