The Board of Directors of TOPVISION wishes to announce that the Company has on even date, acquired two (2) ordinary shares, representing 100% of the issued share capital of TopVision International Eye Specialist Centre Sdn Bhd (“TopVision International”) for a total cash consideration of RM2.00 ("Acquisition”). As a result of the above, TopVision International is now a wholly-owned subsidiary of TOPVISION.

TopVision International was incorporated in Malaysia on 11 October 2018 as a private company limited by shares under the Companies Act 2016 with a paid-up share capital of RM2.00. 

Prior to the listing of TOPVISION on the LEAP Market of Bursa Malaysia Securities Berhad, the Company had authorised its directors, namely Mr Liew Hock Nean and Dr Peter Chong Kuok Siong to incorporate TopVision International to establish an international eye specialist centre in line with TOPVISION’s business expansion plans, as disclosed in the Company’s Information Memorandum dated 18 September 2018. The intended principal activity of TopVision International is the provision of ophthalmology services and related medical consultancy.

The Acquisition is not expected to have any material effect on the earnings, gearing and net assets of TOPVISION for the financial year ending 31 December 2018.

Save for Mr Liew Hock Nean and Dr Peter Chong Kuok Siong holding the initial subscribers’ shares in TopVision International prior to the Acquisition, none of the Directors or major shareholders of TOPVISION or persons connected to them has any direct or indirect interest in the Acquisition.

This announcement is dated 6 December 2018