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Further to the announcement of 21 April 2008, Salcon Berhad ("Salcon" or "the Company") is pleased to announce the incorporation of Changle Salcon Raw Water Company Limited ("CSRW") in The People's Republic of China ("PRC") on 12 June 2008.
The principal activity of CSRW is to implement the New 38KM Raw Water Intake Project in Changle County, PRC.
Presently, CSRW has no registered capital. The proposed registered capital for CSRW is USD6.32 million (approximately RM19.85 million) and will be subscribed by Salcon Shandong (HK) Limited ("SSHK"), Hong Kong.
SSHK is a wholly-owned subsidiary of the Company.
The incorporation of CSRW will not have any material effect on the earnings and net assets of the Group for the financial year ending 31 December 2008.
None of the Directors and/or major shareholders of the Company or persons connected with them have any interest, direct or indirect, in the incorporation.
This announcement is dated 18 June 2008. |
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