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Salcon Berhad (“Salcon” or “the Company”) is pleased to announce that the following subsidiaries have on 19 March 2010 acquired 10,000 ordinary shares of Rs.10 each representing 100% equity interest in Salcon Engineering (India) Private Limited (“SEI”), a company incorporated in Hyderabad, India:-
(a) Salcon Engineering Berhad (“SEB”) has acquired 100 ordinary shares of Rs.10 each representing 1% equity interest in SEI; and
(b) Salcon Holdings (Mauritius) Limited (“SHM”), Mauritius, has acquired 9,900 ordinary shares of Rs.10 representing 99% equity interest in SEI.
The authorized share capital of SEI is Rs.500,000 divided into 50,000 ordinary shares of Rs.10 each, and its principal activity is construction of water, sewerage and waste facilities.
SEB is a wholly-owned subsidiary of the Company and SHM is a wholly-owned subsidiary of SEB.
The acquisition will not have any significant effect on the earnings or net assets of Salcon Group for the financial year ending 31 December 2010, and the share capital of the Company.
None of the Directors and/or substantial shareholders of the Company or persons connected with them have any interest, direct or indirect, in the acquisition. |
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