add free Download App
premium Premium Account

Last Price Change Volume
KLSE Market Watch
Open: Day Range: Prev Close:

OTHERS Acquisition of sub-subsidiary company - HARBOUR FRIDA SDN. BHD.


Type Announcement
Subject OTHERS
Acquisition of sub-subsidiary company - HARBOUR FRIDA SDN. BHD.

1. Introduction


The Board of Directors of Harbour-Link Group Berhad (“Harbour-Link”) is pleased to announce that Harbour-Link Navigation Sdn Bhd (“HLNSB”), a wholly-owned subsidiary of Harbour-Link had on 18 January 2021 acquired Eight Hundred and Fifty (850) ordinary shares, representing 85% equity interest in Habour Frida Sdn. Bhd. (Registration No. 202001042661 (1398982-P)) (“HFSB”) from Luna Anak Raymond (NRIC No. 790110-13-5854), a non-related party, for a total cash consideration of RM850.00 (“the Acquisition”).


The Acquisition was funded by internally generated funds.


Following the Acquisition, HFSB becomes a 85.00% owned subsidiary of HLNSB. The balance 15.00% is held by Megan Millenium Sdn Bhd (“MMSB”), a non-related Company.


2. Information on HFSB


HFSB was incorporated in Malaysia on 23 December 2020 as a private limited company. The paid-up capital is RM1,000.00 comprising 1,000 ordinary shares. HFSB is currently dormant and it’s intended principal activity is ship owning and provision of ship management services.


3. Rationale


The Acquisition is to facilitate the expansion of the Harbour-Link Group’s operation.


4. Financial Effects


The Acquisition is not expected to have any material effect on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholdings of Harbour-Link for the financial year ending 30 June 2021.


5. Approval required


The Acquisition is not subject to the approvals from the shareholders and the relevant authorities.


6. Directors’ and Major Shareholders’ Interest


None of the directors and major shareholders of Harbour-Link and/or persons connected with them have any interest, whether direct or indirect, in the Acquisition.


7. Statement by Directors


The Board of Directors of Harbour-Link is of the opinion that the Acquisition is in the best interests of Harbour-Link.


This announcement is dated 18 January 2021.

Announcement Info

Stock Name HARBOUR
Date Announced 18 Jan 2021
Category General Announcement for PLC
Reference Number GA1-05012021-00036