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OTHERS BIOALPHA HOLDINGS BERHAD ("BIOALPHA" OR "THE COMPANY") INCORPORATION OF NEW INDIRECT WHOLLY-OWNED SUBSIDIARY IN HONG KONG

BIOALPHA HOLDINGS BERHAD

Type Announcement
Subject OTHERS
Description
BIOALPHA HOLDINGS BERHAD ("BIOALPHA" OR "THE COMPANY")
INCORPORATION OF NEW INDIRECT WHOLLY-OWNED SUBSIDIARY IN HONG KONG

1. INTRODUCTION 

 

The Board of Directors of Bioalpha Holdings Berhad (“Bioalpha” or “the Company” wishes to announce that its wholly-owned subsidiary, Bioalpha (HK) Limited had on 16 September 2021 incorporated a new wholly-owned subsidiary in Hong Kong with the name of “BHK Development Limited” under the Companies Ordinance (Chapter 622 of the Laws of Hong Kong)(“the Incorporation”).

 

The intended principal activity BHK Development Limited is principally involved in the business relating to research and development activities, manufacturing, import and export and trading of goods including functional foods or healthcare products in China and land development which includes the construction of a new facility for processing and warehousing facilities.

 

2. RATIONALE FOR THE INCORPORATION 

 

The purpose of the Incorporation is to expand Bioalpha business in Hong Kong, China.

 

3. FINANCIAL EFFECTS OF THE INCORPORATION 

 

The Incorporation will not have any material effect on the earning per share, net assets per shares, gearing and substantial shareholders’ shareholding of the Company and its subsidiaries for the financial year ending 31 December 2021.

 

4. INTEREST OF DIRECTORS AND/OR SUBTANTIAL SHAREHOLDERS AND/OR PERSONS CONNECTED TO THEM 

 

None of the Directors, major shareholders and persons connected with the Directors and/or substantial shareholders of Bioalpha, have any interest, direct or indirect, in the Incorporation.  

 

5. STATEMENT BY DIRECTORS

 

The Board of Directors of Bioalpha is of the opinion that the Incorporation is in the best interest of the Company. 

 

6. APPROVALS REQUIRED 

 

The Incorporation n is not subject to the approval of the shareholders of Bioalpha or any governmental authorities.

 

This announcement is dated 20 September 2021.






Announcement Info

Company Name BIOALPHA HOLDINGS BERHAD
Stock Name BIOHLDG
Date Announced 20 Sep 2021
Category General Announcement for PLC
Reference Number GA1-20092021-00045




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