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Announcement On Equity Investment In Subsidiary

BackOct 05, 2005
Type Announcement
Subject
ANNOUNCEMENT ON EQUITY INVESTMENT IN SUBSIDIARY

Contents :

The Board of Directors of KKB Engineering Berhad ("KKBEB") wishes to announce that KKBEB has on 5 October 2005 subscribed 8,999,998 new ordinary shares of RM1.00 each at par value in the capital of KKB Industries (Sabah) Sdn. Bhd. ("KKBIS") satisfied by way of capitalising the inter company debt account to the extent of RM8,999,998.00, being part of the advances owing to KKBEB by KKBIS. Subsequent to the subscription of the new shares, the equity interest of KKBEB in KKBIS has been diluted from 100% to 90%.


The existing authorised capital of KKBIS is RM10,000,000.00 divided into 10,000,000 ordinary shares of RM1.00 each, whilst the issued and fully paid-up capital is RM10,000,000.00 divided into 10,000,000 ordinary shares of RM1.00 each.

The Board of Directors of KKBEB would like to inform that none of the Directors, major shareholders and/or persons connected with them have any interest, direct or indirect, in the subscription. The Board is of the opinion that the subscription is in the best interest of KKBEB Group and not to the detriment of the minority shareholders.

 

Announcement Info

a
Company Name KKB ENGINEERING BERHAD  
Stock Name KKB    
Date Announced 5 Oct 2005  
Category General Announcement
Reference No CC-050930-58228