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OTHERS SCOPE INDUSTRIES BERHAD ("SCOPE" OR "THE COMPANY") DISPOSAL OF 95% EQUITY INTEREST IN SCOPE SALES & SERVICES SDN BHD BY SCOPE FOR A TOTAL CASH CONSIDERATION OF RM76,000.00

SCOPE INDUSTRIES BERHAD

Type Announcement
Subject OTHERS
Description
SCOPE INDUSTRIES BERHAD ("SCOPE" OR "THE COMPANY")
DISPOSAL OF 95% EQUITY INTEREST IN SCOPE SALES & SERVICES SDN BHD BY SCOPE FOR A TOTAL CASH CONSIDERATION OF RM76,000.00

The Board of Directors of Scope Industries Berhad (“Scope” or “the Company”) wishes to announce that Scope has on today disposed its 95,000 ordinary shares of RM1.00 each, representing 95% equity interest in Scope Sales & Services Sdn Bhd (“SSSSB”) to Ms Olyvia Newton Chin for a total cash consideration of Ringgit Malaysia Seventy Six Thousand (RM76,000.00) only (hereinafter referred to as “Disposal of Shares”).

Upon completion of the Disposal of Shares, SSSSB will cease to be the wholly-owned subsidiary of the Company.

SSSSB is a private limited company incorporated in Malaysia and having its registered office at 51-13-A, Menara BHL Bank, Jalan Sultan Ahmad Shah, 10050 Penang. SSSSB present principal activities are investment holding and trading of electrical products.

The above Disposal of Shares is to facilitate the divestment of a non-core and loss making subsidiary in the Group as well as to explore new business opportunities with the buyer.

None of the Directors and / or major shareholders and / or persons connected with them have any interest, either direct or indirect in this Disposal of Shares.

This announcement is dated 19 June 2015.






Announcement Info

Company Name SCOPE INDUSTRIES BERHAD
Stock Name SCOPE
Date Announced 19 Jun 2015
Category General Announcement for PLC
Reference Number GA1-16062015-00001




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