Highlights:
add free Download App
premium Premium Account

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


OTHERS SUNZEN BIOTECH BERHAD (the Company or Sunzen) - Subscription of Shares in Sunzen Agritechnology (Northern) Sdn. Bhd. by Sunzen Feedtech Sdn. Bhd., a wholly-owned subsidiary of the Company.

SUNZEN BIOTECH BERHAD

Type Announcement
Subject OTHERS
Description
SUNZEN BIOTECH BERHAD (the Company or Sunzen)
- Subscription of Shares in Sunzen Agritechnology (Northern) Sdn. Bhd. by Sunzen Feedtech Sdn. Bhd., a wholly-owned subsidiary of the Company.

The Board of Directors of Sunzen wishes to announce that Sunzen Feedtech Sdn. Bhd. (“SFSB”), a wholly-owned subsidiary of the Company, had on 14 July 2017 subscribed 51 ordinary shares at an issue price of RM1.00 each, representing 51% equity interest in Sunzen Agritechnology (Northern) Sdn. Bhd. (Company No.: 1238788-V)(“SASB”) for a total cash consideration of RM51.00 (“Subscription”).

In consequence thereof, SASB shall become a 51%-owned subsidiary of SFSB.

The total number of issued share capital of SASB is 100 ordinary shares. The business activity of SASB is manufacturing and trading of biomass material and fertilizers focusing on oil palm EFB fibre, coconut fibre, palm oil mill waste and farm animal waste, and also manufacturing and distribution of house brands products such as fibre and palm based fertilizers.

The Board of Directors and Shareholders and their respective shareholdings in SASB are as follows:-

(I) Directors

  1. Hong Choon Hau;
  2. Lim Eng Chai; and
  3. Beh Hang Tong.

(II) Shareholders and their shareholdings

  1. SFSB – 51 ordinary shares (51%); and
  2. Arah Kawasan Sdn. Bhd. - 49 ordinary shares (49%).

None of the directors and/or major shareholders of the Company and/or persons connected with them have any interest, whether direct or indirect, in the Subscription.

The Subscription would not have material effect on the Group’s earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding for the financial year ending 31 December 2017.

This announcement is dated 17 July 2017.

 

 






Announcement Info

Company Name SUNZEN BIOTECH BERHAD
Stock Name SUNZEN
Date Announced 17 Jul 2017
Category General Announcement for PLC
Reference Number GA1-14072017-00066




Close