Further to the announcement on 21 March 2011 on the execution of Concession Agreement between SCHK and Changzhou City Tian Ning District Diao Zhuang Street Office (“CCTNDDZSO”) and the execution of Asset Transfer Agreement between SCHK and Changzhou Southeast Industrial Wastewater Treatment Plant whereby a new company will be incorporated in People’s Republic of China to carry out the obligations and responsibilities of SCHK, Salcon Berhad (“Salcon” or “Company”) wishes to announce that SCHK had on 20 April 2011 incorporated a new wholly-owned subsidiary company in People’s Republic of China, details of which are set out below:
| 1. |
Name of Company |
Changzhou Salcon Wastewater Treatment Co. Ltd. (“CSWT”)
|
| 2. |
Principal Activities |
Wastewater operation and treatment
|
| 3. |
Registered share capital |
USD5.07 million (equivalent to approximately RM15,236,100)
|
| 4. |
Paid up capital |
As at the date of incorporation, there is no paid up capital. The proposed paid up capital is USD5.07 million
|
| 5. |
Mr Tey Thiam Huat has been nominated as the legal representative of CSWT |
The incorporation of CSWT will not have any material effect on the earnings and net assets of the Group for the financial year ending 31 December 2011.
Save as disclosed, none of the directors or major shareholders or persons connected to the directors or major shareholders of Salcon have any interest, direct or indirect in the incorporation.
