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ASIA BIOENERGY TECHNOLOGIES BERHAD (“ASIABIO”) ACQUISITION OF NEW SUBSIDIARY BY AN ASSOCIATE COMPANY OF ASIABIO

ASIA BIOENERGY TECHNOLOGIES BERHAD

TypeAnnouncement
SubjectASIA BIOENERGY TECHNOLOGIES BERHAD (“ASIABIO”)
ACQUISITION OF NEW SUBSIDIARY BY AN ASSOCIATE COMPANY OF ASIABIO
Contents The Board of Directors of Asia Bioenergy Technologies Berhad (“ASIABIO”) wishes to announce that its associated company, Asiabio Zyme Solutions Sdn. Bhd. (formerly known as ALC Management Sdn. Bhd.) (“ZymeSolutions”) had on 3 November 2009, acquired the entire equity interest in Crisiant Kouseki Seishou Sdn. Bhd. ("CKS") for a total cash consideration of RM2.00 ("the Acquisition").

CKS, a dormant company, will be renamed Asiabio Zyme Engineering Sdn. Bhd. and is proposed to be involved in various engineering works for microbe propagation equipments and machineries.

CKS is a private limited company incorporated in Malaysia under the Companies Act, 1965 on 12 November 2007, with an authorised share capital of RM100,000.00 comprising 100,000 ordinary shares of RM1.00 each, of which 2 ordinary shares of RM1.00 each have been issued and fully paid-up.

The Acquisition will not have any material effect on the issued and paid-up share capital, substantial shareholding structure, earnings, consolidated net tangible assets and gearing of the ASIABIO Group.

None of the Directors and/or major shareholders of ASIABIO and persons connected to them have any interests, direct or indirect, in the Acquisition.

Kenanga Investment Bank Berhad is the sponsor for ASIABIO.

This announcement is dated 3 November 2009.


Announcement Info

Company NameASIA BIOENERGY TECHNOLOGIES BERHAD (ACE Market) 
Stock Name ASIABIO    
Date Announced3 Nov 2009  
CategoryGeneral Announcement
Reference NoCU-091103-58275



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