Others
28-11-2017
Type | Announcement |
Subject | OTHERS |
Description |
TITIJAYA LAND BERHAD ("TITIJAYA" OR "THE COMPANY") - ACQUISITION OF NEW WHOLLY OWNED SUBSIDIARY |
Pursuant to paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Titijaya wishes to announce that Titijaya Resources Sdn. Bhd. (Company No. 1078020-X) (“TRSB”), a wholly owned subsidiary of Titijaya had on 28 November 2017, acquired two (2) ordinary shares, representing 100% of the issued share capital of Asas Dinasti Sdn. Bhd. (Company No. 1203746-K) (“Asas Dinasti”), a shelf company incorporated in Malaysia, for a total consideration of RM2.00 (“Acquisition”). Following the above Acquisition, Asas Dinasti has become an indirect wholly owned subsidiary of Titijaya. Asas Dinasti was incorporated on 4 October 2016 as a private company limited by shares under the laws of Malaysia. Asas Dinasti has an issued share capital of 2 ordinary shares equivalent to RM2.00. The intended principal activity of Asas Dinasti is property development. The Acquisition will have no material effect on the earnings per share, net assets per share, gearing, share capital and the substantial shareholders’ shareholdings of Titijaya. None of the Directors and/or major shareholders of Titijaya and/or persons connected to them have any interests, direct or indirect in the above Acquisition. The Board of Directors of the Company is of the opinion that the Acquisition is in the best interest of Titijaya. This announcement is dated 28 November 2017. |
Announcement Info
Company Name | TITIJAYA LAND BERHAD |
Stock Name | TITIJYA |
Date Announced | 28 Nov 2017 |
Category | General Announcement for PLC |
Reference Number | GA1-28112017-00111 |