Salcon Berhad (“Salcon” or “the Company”) wishes to announce that Salcon Engineering Berhad (“Salcon Engineering”), a wholly-owned subsidiary of Salcon, had on 8 March 2012 acquired 2 Ordinary Shares of RM1.00 each, representing 100% equity interest in Tanjung Jutaria Sdn Bhd (Company No. 979463-U) (“Tanjung Jutaria”), a shelf company incorporated in Malaysia, for a total consideration of RM2.00 (“the Acquisition”). Subsequent to the Acquisition, Tanjung Jutaria shall become a wholly-owned subsidiary of Salcon Engineering, which in turn is a wholly-owned subsidiary of the Company.
Tanjung Jutaria was incorporated on 23 February 2012 in Malaysia. The authorised share capital of Tanjung Jutaria is RM100,000.00 comprising 100,000 Ordinary Shares of RM1.00 each while its issued share capital consists of 2 Ordinary Shares of RM1.00 each which have been fully paid. The intended business activity of Tanjung Jutaria is design and construction of water and waste water facilities.
The Acquisition will not have any significant effect on the earnings or net assets of Salcon Group for the financial year ending 31 December 2012, and of the share capital of the Company.
None of the Directors and/or major shareholders of the Company or persons connected with them have any interest, direct or indirect, in the Acquisition.
