Contents | The Board of Directors of Sunzen Biotech (Board) wishes to announce that it has incorporated a new subsidiary in Indonesia, PT. Sunzen Indonesia (PTSI) (Incorporation).
The authorised and issued share capital of PTSI is USD100,000.00 divided into 100,000 ordinary shares of USD1.00 each to be paid up in due course. Sunzen LifeSciences Sdn Bhd and Sunzen Feedtech Sdn Bhd, both wholly-owned subsidiaries of Sunzen Biotech, will contribute 70% and 30%, respectively, to the paid up share capital of PTSI.
PTSI is presently dormant and its proposed business is in the distribution of animal health products.
The Incorporation is not expected to have any material effect on the earnings and net assets of Sunzen Biotech and its subsidiaries (Sunzen Group) for the financial year ending 31 December 2009.
None of the directors and/or major shareholders of Sunzen Biotech and/or persons connected to them, has any interest, direct or indirect, in the Incorporation.
The Board is of the opinion that the Incorporation is in the best interest of the Sunzen Group.
This announcement is dated 26 November 2009. |