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GRAND-FLO SOLUTION BERHAD (“GRAND-FLO” OR “COMPANY”) INCORPORATION OF SIMAT SOFT CO., LTD.

GRAND-FLO SOLUTION BERHAD

Type

Announcement
SubjectGRAND-FLO SOLUTION BERHAD (“GRAND-FLO” OR “COMPANY”)

INCORPORATION OF SIMAT SOFT CO., LTD.

Contents :

The Board of Directors of Grand-Flo is pleased to announce the incorporation of Simat Soft Co., Ltd ("Simat Soft") in Thailand with Simat Technologies Public Company Limited (being a subsidiary company of Grand-Flo) holding an equity interest of 99.99% therein.


Presently, the authorised, issued and paid-up capital of Simat Soft is THB3,000,000 comprising of 300,000 ordinary shares of THB10 each. Simat Soft is presently dormant and its principal activities are intended to carry on the business of producing, developing, modifying and selling of computer software and to engage in consultancy service involving computer software.

Simat Soft was granted certain privileges and benefits by the Board of Investment of Thailand which include, inter-alia, the following:-

(i) Employment of foreigners as skilled technicians or experts;

(ii) Allow to apply for work permit for such foreigners as mentioned in (i) above;

(iii) Exemption from import duty for imports of machinery (such as computers, notebooks, etc); and

(iv) Exemption from corporate income tax for a period of eight (8) years from the date of the first income and any losses incurred are allowed to be carried forward and deductible as expenses for up to a period of five (5) years.

This announcement is dated 4 September 2006.



Announcement Info

Company NameGRAND-FLO SOLUTION BERHAD (MESDAQ Market) 
Stock Name GRANFLO    
Date Announced4 Sept 2006  
CategoryGeneral Announcement
Reference NoCM-060904-63029



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