LFECORP - Change in Boardroom
Announcement Type: Change in Boardroom
Company Name: LFE CORPORATION BERHAD
Stock Name: LFECORP
Date Announced: 19/10/2010
Announcement Detail:
Date of change: 19/10/2010
Type of change: Appointment
Designation: Executive Director
Directorate: Executive
Name: Kok Tong Yong
Age: 54
Nationality: Malaysian
Qualifications: Mr Kok obtained a Bachelor of Science (Mechanical Engineering)Defree from the Teesside Polytechnic, UK in 1981 and is a Chartered Professional Engineer with the Institute of Engineers, Australia.
Working experience and occupation: Mr. Kok has 29 years of extensive working experience in the construction industry beginning as a design engineer with a consultancy firm and leading to experiences as a mechanical and electrical engineer, having held various managerial positions with established main contractors and developers. Prior to joining the Company and the Group, Mr. Kok was a Director of Mechanical & Electrical in Ireka Engineering and Construction Sdn Bhd and was responsible for the execution of all mechanical and electrical works that were undertaken by Ireka Group throughout his tenure. He is currently the Chief Operating Officer of the Company's wholly-owned subsidiary, LFE Engineering Sdn Bhd and is responsible in overseeing its projects in the Middle East.
Directorship of public companies (if any): Nil
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Mr Kok holds a direct shareholding of 25,000 in the Company.
Remarks: This announcement is dated 19 October 2010.
Company Name: LFE CORPORATION BERHAD
Stock Name: LFECORP
Date Announced: 19/10/2010
Announcement Detail:
Date of change: 19/10/2010
Type of change: Appointment
Designation: Executive Director
Directorate: Executive
Name: Kok Tong Yong
Age: 54
Nationality: Malaysian
Qualifications: Mr Kok obtained a Bachelor of Science (Mechanical Engineering)Defree from the Teesside Polytechnic, UK in 1981 and is a Chartered Professional Engineer with the Institute of Engineers, Australia.
Working experience and occupation: Mr. Kok has 29 years of extensive working experience in the construction industry beginning as a design engineer with a consultancy firm and leading to experiences as a mechanical and electrical engineer, having held various managerial positions with established main contractors and developers. Prior to joining the Company and the Group, Mr. Kok was a Director of Mechanical & Electrical in Ireka Engineering and Construction Sdn Bhd and was responsible for the execution of all mechanical and electrical works that were undertaken by Ireka Group throughout his tenure. He is currently the Chief Operating Officer of the Company's wholly-owned subsidiary, LFE Engineering Sdn Bhd and is responsible in overseeing its projects in the Middle East.
Directorship of public companies (if any): Nil
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Mr Kok holds a direct shareholding of 25,000 in the Company.
Remarks: This announcement is dated 19 October 2010.
SERNKOU - Change in Boardroom
Announcement Type: Change in Boardroom
Company Name: SERN KOU RESOURCES BERHAD
Stock Name: SERNKOU
Date Announced: 19/10/2010
Announcement Detail:
Date of change: 19/10/2010
Type of change: Appointment
Designation: Non-Executive Director
Directorate: Independent & Non Executive
Name: Leou Thiam Lai
Age: 54
Nationality: Malaysian
Qualifications: Chartered Accountant of the Malaysian Institute of Accountants, Fellow member of the Chartered Association of Certified Accountants (UK) and a Fellow member of the Chartered Tax Institute of Malaysia (formerly known as Malaysian Institute of Taxation)
Working experience and occupation: Mr Leou was with Aljeffri, Siva, Heng and Monteiro from 1980 to 1981 and Baharom Hamdan from 1981 to 1984. He then set up his own Chartered Accountants firm, Leou & Associates, in 1988 and to date, he still serves as a partner of the firm.
Directorship of public companies (if any): United Bintang Berhad, I-Power Berhad, Ramunia Holdings Berhad, Cosway Corporation Limited (formely known as Berjaya Holdings (HK) Limited, a subsidiary of Berjaya Corporation Berhad) , Degem Berhad and Nextnation Communication Berhad
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
Company Name: SERN KOU RESOURCES BERHAD
Stock Name: SERNKOU
Date Announced: 19/10/2010
Announcement Detail:
Date of change: 19/10/2010
Type of change: Appointment
Designation: Non-Executive Director
Directorate: Independent & Non Executive
Name: Leou Thiam Lai
Age: 54
Nationality: Malaysian
Qualifications: Chartered Accountant of the Malaysian Institute of Accountants, Fellow member of the Chartered Association of Certified Accountants (UK) and a Fellow member of the Chartered Tax Institute of Malaysia (formerly known as Malaysian Institute of Taxation)
Working experience and occupation: Mr Leou was with Aljeffri, Siva, Heng and Monteiro from 1980 to 1981 and Baharom Hamdan from 1981 to 1984. He then set up his own Chartered Accountants firm, Leou & Associates, in 1988 and to date, he still serves as a partner of the firm.
Directorship of public companies (if any): United Bintang Berhad, I-Power Berhad, Ramunia Holdings Berhad, Cosway Corporation Limited (formely known as Berjaya Holdings (HK) Limited, a subsidiary of Berjaya Corporation Berhad) , Degem Berhad and Nextnation Communication Berhad
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
SERNKOU - Change in Audit Committee
Announcement Type: Change in Audit Committee
Company Name: SERN KOU RESOURCES BERHAD
Stock Name: SERNKOU
Date Announced: 19/10/2010
Announcement Detail:
Date of change: 19/10/2010
Type of change: Appointment
Designation: Member of Audit Committee
Directorate: Independent & Non Executive
Name: Leou Thiam Lai
Age: 54
Nationality: Malaysian
Qualifications: Chartered Accountant of the Malaysian Institute of Accountants, Fellow member of the Chartered Association of Certified Accountants (UK) and a Fellow member of the Chartered Tax Institute of Malaysia (formerly known as Malaysian Institute of Taxation)
Working experience and occupation: Mr Leou was with Aljeffri, Siva, Heng and Monteiro from 1980 to 1981 and Baharom Hamdan from 1981 to 1984. He then set up his own Chartered Accountants firm, Leou & Associates, in 1988 and to date, he still serves as a partner of the firm
Directorship of public companies (if any): United Bintang Berhad, I-Power Berhad, Ramunia Holdings Berhad, Cosway Corporation Limited (formely known as Berjaya Holdings (HK) Limited, a subsidiary of Berjaya Corporation Berhad), Degem Berhad and Nextnation Communication Berhad.
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
Composition of Audit Committee (Name and Directorate of members after change): 1) Dr Tan Chee Huat - Chairman (Independent Non-Executive Director)
2) Tay Puay Chuan - Member (Independent Non-Executive Director)
3) Datuk Dr Haris Bin Hj Salleh - Member (Independent Non-Executive Director)
4) Leou Thiam Lai - Member (Independent Non-Executive Director)
Company Name: SERN KOU RESOURCES BERHAD
Stock Name: SERNKOU
Date Announced: 19/10/2010
Announcement Detail:
Date of change: 19/10/2010
Type of change: Appointment
Designation: Member of Audit Committee
Directorate: Independent & Non Executive
Name: Leou Thiam Lai
Age: 54
Nationality: Malaysian
Qualifications: Chartered Accountant of the Malaysian Institute of Accountants, Fellow member of the Chartered Association of Certified Accountants (UK) and a Fellow member of the Chartered Tax Institute of Malaysia (formerly known as Malaysian Institute of Taxation)
Working experience and occupation: Mr Leou was with Aljeffri, Siva, Heng and Monteiro from 1980 to 1981 and Baharom Hamdan from 1981 to 1984. He then set up his own Chartered Accountants firm, Leou & Associates, in 1988 and to date, he still serves as a partner of the firm
Directorship of public companies (if any): United Bintang Berhad, I-Power Berhad, Ramunia Holdings Berhad, Cosway Corporation Limited (formely known as Berjaya Holdings (HK) Limited, a subsidiary of Berjaya Corporation Berhad), Degem Berhad and Nextnation Communication Berhad.
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: Nil
Composition of Audit Committee (Name and Directorate of members after change): 1) Dr Tan Chee Huat - Chairman (Independent Non-Executive Director)
2) Tay Puay Chuan - Member (Independent Non-Executive Director)
3) Datuk Dr Haris Bin Hj Salleh - Member (Independent Non-Executive Director)
4) Leou Thiam Lai - Member (Independent Non-Executive Director)
SERNKOU - Change in Boardroom
Announcement Type: Change in Boardroom
Company Name: SERN KOU RESOURCES BERHAD
Stock Name: SERNKOU
Date Announced: 19/10/2010
Announcement Detail:
Date of change: 19/10/2010
Type of change: Appointment
Designation: Executive Director
Directorate: Executive
Name: Loo Eng Hua
Age: 46
Nationality: Malaysian
Qualifications: Malaysian Institutes of Certified Public Accoutants
Working experience and occupation: 1) May 2003 - 21 November 2008
Company Name: GM Build Sdn Bhd
Last Position Title: Chief Executive Officer
Industry: Construction/Building development
2) 19 July 2002 - 18 April 2003
Company Name: Jutajaya Holdings Bhd
Position Title: Chief Executive Officer/Managing Director
Industry:Construction/Building development/Industry
3) 15 May 1998 - 30 August 2001
Company Name: Parit Perak Holdings Bhd
Position Title: Senior General Manager
Industry: Construction/Building development/Hotel business/foreign
4) 11 September 1995 - 13 April 1998
Company Name: Kemayan Construction Sdn Bhd
Position Title: Group Financial Controller
Industry: Construction/Building Development/multiple businesses
5) 3 February 1994 - 7 August 1995
Company Name: Harbin Roxy (Hong Kong) Entertainment City Ltd
Position Title: Finance Manager
Industry: Entertainment/Media
6) 20 August 1990 - 13 January 1994
Company Name: Coopers & Lybrand (now known as PriceWaterhouseCoopers)
Position Title: Audit Senior
Position Level: Senior Executive
Industry: Audit/Taxation
Directorship of public companies (if any): Nil
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: 100,000 Ordinary Share of RM0.50 each
Company Name: SERN KOU RESOURCES BERHAD
Stock Name: SERNKOU
Date Announced: 19/10/2010
Announcement Detail:
Date of change: 19/10/2010
Type of change: Appointment
Designation: Executive Director
Directorate: Executive
Name: Loo Eng Hua
Age: 46
Nationality: Malaysian
Qualifications: Malaysian Institutes of Certified Public Accoutants
Working experience and occupation: 1) May 2003 - 21 November 2008
Company Name: GM Build Sdn Bhd
Last Position Title: Chief Executive Officer
Industry: Construction/Building development
2) 19 July 2002 - 18 April 2003
Company Name: Jutajaya Holdings Bhd
Position Title: Chief Executive Officer/Managing Director
Industry:Construction/Building development/Industry
3) 15 May 1998 - 30 August 2001
Company Name: Parit Perak Holdings Bhd
Position Title: Senior General Manager
Industry: Construction/Building development/Hotel business/foreign
4) 11 September 1995 - 13 April 1998
Company Name: Kemayan Construction Sdn Bhd
Position Title: Group Financial Controller
Industry: Construction/Building Development/multiple businesses
5) 3 February 1994 - 7 August 1995
Company Name: Harbin Roxy (Hong Kong) Entertainment City Ltd
Position Title: Finance Manager
Industry: Entertainment/Media
6) 20 August 1990 - 13 January 1994
Company Name: Coopers & Lybrand (now known as PriceWaterhouseCoopers)
Position Title: Audit Senior
Position Level: Senior Executive
Industry: Audit/Taxation
Directorship of public companies (if any): Nil
Family relationship with any director and/or major shareholder of the listed issuer: Nil
Any conflict of interests that he/she has with the listed issuer: Nil
Details of any interest in the securities of the listed issuer or its subsidiaries: 100,000 Ordinary Share of RM0.50 each
SAMUDRA - General Announcement
Announcement Type: General Announcement
Company Name: KEJURUTERAAN SAMUDRA TIMUR BERHAD
Stock Name: SAMUDRA
Date Announced: 19/10/2010
Announcement Detail:
Type: Announcement
Subject: KEJURUTERAAN SAMUDRA TIMUR BERHAD ("KSTB" or "THE COMPANY")
- Change of composition of the Remuneration Committee
Contents: The Board of KSTB wishes to announce the following changes to the composition of the Remuneration Committee ("RC") of the Company with effect from 19 October 2010 :-
1) Resignation of Tengku Aniza binti Tengku Ab. Hamid as Chairman and member of the RC;
2) Appointment of Dato' Nik Abdul Aziz bin Mohamed Kamil as additional member and Chairman of the RC;
3) Appointment of Mr Darmendran Kunaretnam as additional member of the RC.
Consequent to the change, the composition of the RC shall comprise of :-
1) Dato' Nik Abdul Aziz bin Mohamed Kamil - Chairman
(Independent Non-Executive Director)
2) Ishak @ Abd. Rahman bin Mohamad
(Independent Non-Executive Director)
3) Leong Chee Keong
(Independent Non-Executive Director)
4) Dato' Chee Peck Kiat @ Chee Peck Jan
(Non-Independent Executive Director)
5) Darmendran Kunaretnam
(Non-Independent Executive Director)
This announcement is dated 19 October 2010.
Company Name: KEJURUTERAAN SAMUDRA TIMUR BERHAD
Stock Name: SAMUDRA
Date Announced: 19/10/2010
Announcement Detail:
Type: Announcement
Subject: KEJURUTERAAN SAMUDRA TIMUR BERHAD ("KSTB" or "THE COMPANY")
- Change of composition of the Remuneration Committee
Contents: The Board of KSTB wishes to announce the following changes to the composition of the Remuneration Committee ("RC") of the Company with effect from 19 October 2010 :-
1) Resignation of Tengku Aniza binti Tengku Ab. Hamid as Chairman and member of the RC;
2) Appointment of Dato' Nik Abdul Aziz bin Mohamed Kamil as additional member and Chairman of the RC;
3) Appointment of Mr Darmendran Kunaretnam as additional member of the RC.
Consequent to the change, the composition of the RC shall comprise of :-
1) Dato' Nik Abdul Aziz bin Mohamed Kamil - Chairman
(Independent Non-Executive Director)
2) Ishak @ Abd. Rahman bin Mohamad
(Independent Non-Executive Director)
3) Leong Chee Keong
(Independent Non-Executive Director)
4) Dato' Chee Peck Kiat @ Chee Peck Jan
(Non-Independent Executive Director)
5) Darmendran Kunaretnam
(Non-Independent Executive Director)
This announcement is dated 19 October 2010.
JADI - Profile for Warrants
Announcement Type: Listing Information & Profile
Submitting Merchant Bank: RHB INVESTMENT BANK BERHAD
Company Name: JADI IMAGING HOLDINGS BERHAD
Stock Name: JADI
Date Announced: 19/10/2010
Announcement Detail:
Instrument Type: Warrants
Description: 348,251,380 FREE WARRANTS IN JADI ("FREE WARRANTS") ISSUED ON THE BASIS OF ONE (1) FREE WARRANT FOR EVERY TWO (2) EXISTING ORDINARY SHARES OF RM0.10 EACH IN JADI ("JADI SHARES" OR "SHARES") HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AS AT 5 P.M. ON 11 OCTOBER 2010
Listing Date: 20/10/2010
Issue Date: 13/10/2010
Issue/ Ask Price: MYR 0.0000
Issue Size Indicator: Unit
Issue Size in Unit: 348,251,380
Maturity Date: 12/10/2015
Exercise/ Conversion Period: 5.00 Year(s)
Exercise/Strike/Conversion Price: MYR 0.1700
Revised Exercise/Strike/Conversion Price: MYR 0.0000
Exercise/ Conversion Ratio: 1
Mode of satisfaction of Exercise/ Conversion price: Cash
Settlement Type/ Convertible into: Physical (Shares)
Submitting Merchant Bank: RHB INVESTMENT BANK BERHAD
Company Name: JADI IMAGING HOLDINGS BERHAD
Stock Name: JADI
Date Announced: 19/10/2010
Announcement Detail:
Instrument Type: Warrants
Description: 348,251,380 FREE WARRANTS IN JADI ("FREE WARRANTS") ISSUED ON THE BASIS OF ONE (1) FREE WARRANT FOR EVERY TWO (2) EXISTING ORDINARY SHARES OF RM0.10 EACH IN JADI ("JADI SHARES" OR "SHARES") HELD BY THE ENTITLED SHAREHOLDERS OF THE COMPANY AS AT 5 P.M. ON 11 OCTOBER 2010
Listing Date: 20/10/2010
Issue Date: 13/10/2010
Issue/ Ask Price: MYR 0.0000
Issue Size Indicator: Unit
Issue Size in Unit: 348,251,380
Maturity Date: 12/10/2015
Exercise/ Conversion Period: 5.00 Year(s)
Exercise/Strike/Conversion Price: MYR 0.1700
Revised Exercise/Strike/Conversion Price: MYR 0.0000
Exercise/ Conversion Ratio: 1
Mode of satisfaction of Exercise/ Conversion price: Cash
Settlement Type/ Convertible into: Physical (Shares)
SCNWOLF - Notice of Shares Buy Back - Immediate Announcement
Announcement Type: Notice of Shares Buy Back - Immediate Announcement
Company Name: SCANWOLF CORPORATION BERHAD
Stock Name: SCNWOLF
Date Announced: 19/10/2010
Announcement Detail:
Date of buy back: 19/10/2010
Description of shares purchased: Ordinary Shares of RM0.50 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 48,500
Minimum price paid for each share purchased ($$): 0.360
Maximum price paid for each share purchased ($$): 0.360
Total consideration paid ($$): 17,588.00
Number of shares purchased retained in treasury (units): 48,500
Number of shares purchased which are proposed to be cancelled (units): 0
Cumulative net outstanding treasury shares as at to-date (units): 774,200
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 0.97
Company Name: SCANWOLF CORPORATION BERHAD
Stock Name: SCNWOLF
Date Announced: 19/10/2010
Announcement Detail:
Date of buy back: 19/10/2010
Description of shares purchased: Ordinary Shares of RM0.50 each
Currency: Malaysian Ringgit (MYR)
Total number of shares purchased (units): 48,500
Minimum price paid for each share purchased ($$): 0.360
Maximum price paid for each share purchased ($$): 0.360
Total consideration paid ($$): 17,588.00
Number of shares purchased retained in treasury (units): 48,500
Number of shares purchased which are proposed to be cancelled (units): 0
Cumulative net outstanding treasury shares as at to-date (units): 774,200
Total number of shares purchased and/or held as treasury shares against the total number of outstanding shares of the listed issuer (%): 0.97
HANDAL - HANDAL RESOURCES BERHAD ("HRB" or "the Company") Contract Extension by Talisman Malaysia Limited
Announcement Type: General Announcement
Company Name: HANDAL RESOURCES BERHAD
Stock Name: HANDAL
Date Announced: 19/10/2010
Announcement Detail:
Type: Announcement
Subject: HANDAL RESOURCES BERHAD ("HRB" or "the Company")
Contract Extension by Talisman Malaysia Limited
Contents: The Company is pleased to announce that Handal Offshore Services Sdn Bhd (HOSSB), a wholly owned subsidiary of HRB has on 14 October 2010 received an extension of contract for the provision for crane maintenance contract for PM-3 CAA & PM-305 from Talisman Malaysia Limited. The contracts will be extended for a further period of two (2) years commencing from 2 November 2010 to 1 November 2012.
This contract is expected to improve the earnings of HRB Group for the financial year ending 31 December 2010.
None of the Directors or major shareholders of HRB or persons connected to them have any interest, direct or indirect, in the abovesaid contract.
This announcement is dated 19 October 2010
Company Name: HANDAL RESOURCES BERHAD
Stock Name: HANDAL
Date Announced: 19/10/2010
Announcement Detail:
Type: Announcement
Subject: HANDAL RESOURCES BERHAD ("HRB" or "the Company")
Contract Extension by Talisman Malaysia Limited
Contents: The Company is pleased to announce that Handal Offshore Services Sdn Bhd (HOSSB), a wholly owned subsidiary of HRB has on 14 October 2010 received an extension of contract for the provision for crane maintenance contract for PM-3 CAA & PM-305 from Talisman Malaysia Limited. The contracts will be extended for a further period of two (2) years commencing from 2 November 2010 to 1 November 2012.
This contract is expected to improve the earnings of HRB Group for the financial year ending 31 December 2010.
None of the Directors or major shareholders of HRB or persons connected to them have any interest, direct or indirect, in the abovesaid contract.
This announcement is dated 19 October 2010
AJIYA - Quarterly rpt on consolidated results for the financial period ended 31/8/2010
Announcement Type: Financial Results
Company Name: AJIYA BERHAD
Stock Name: AJIYA
Date Announced: 19/10/2010
Announcement Detail:
Financial Year End: 30/11/2010
Quarter: 3
Quarterly report for the financial period ended: 31/08/2010
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
Company Name: AJIYA BERHAD
Stock Name: AJIYA
Date Announced: 19/10/2010
Announcement Detail:
Financial Year End: 30/11/2010
Quarter: 3
Quarterly report for the financial period ended: 31/08/2010
The figures: have not been audited
Currency: Malaysian Ringgit (MYR)
GUNUNG - ACQUISITION OF NEW SUBSIDAIRY COMPANY BY 51% OWNED SUBSIDAIRY, GPB CORPORATION SDN BHD
Announcement Type: General Announcement
Company Name: GUNUNG CAPITAL BERHAD
Stock Name: GUNUNG
Date Announced: 19/10/2010
Announcement Detail:
Type: Announcement
Subject: ACQUISITION OF NEW SUBSIDAIRY COMPANY BY 51% OWNED SUBSIDAIRY, GPB CORPORATION SDN BHD
Contents: The Board of Directors of Gunung Capital Bhd ("Gunung or the Company") wishes to announce its 51% owned subsidiary GPB Corporation Sdn Bhd ("GPB") has on 13 October 2010 acquired two (2) ordinary shares of RM1.00 each in Bas Rakyat Sdn Bhd (Company No. 911418-W) ("Bas Rakyat") representing 100% of the issued and paid-up capital in Bas Rakyat, for a cash consideration of RM2.00 only.
On 14 October 2010 GPB subscribed for an additional 99,998 ordinary shares of RM1.00 each in Bas Rakyat for a cash consideration of RM99,998 only. The total issued and paid-up capital of Bas Rakyat now stands at 100,000 shares of RM1.00 each.
Bas Rakyat, a dormant company was incorporated in Malaysia on 12 August 2010 with an authorized capital of RM100,000 divided into 100,000 shares of RM1.00 each.
The proposed principal activity of Bas Rakyat is to provide land transport services for passengers.
The above acquisition is not expected to have any material effect on the earnings, net assets, share capital and major shareholding of Gunung for the financial year ending 31 December 2010.
None of the Directors, and/or major shareholders or person connected to the Directors and/or major shareholders has any interest, whether direct or indirect, in the above acquisition.
Company Name: GUNUNG CAPITAL BERHAD
Stock Name: GUNUNG
Date Announced: 19/10/2010
Announcement Detail:
Type: Announcement
Subject: ACQUISITION OF NEW SUBSIDAIRY COMPANY BY 51% OWNED SUBSIDAIRY, GPB CORPORATION SDN BHD
Contents: The Board of Directors of Gunung Capital Bhd ("Gunung or the Company") wishes to announce its 51% owned subsidiary GPB Corporation Sdn Bhd ("GPB") has on 13 October 2010 acquired two (2) ordinary shares of RM1.00 each in Bas Rakyat Sdn Bhd (Company No. 911418-W) ("Bas Rakyat") representing 100% of the issued and paid-up capital in Bas Rakyat, for a cash consideration of RM2.00 only.
On 14 October 2010 GPB subscribed for an additional 99,998 ordinary shares of RM1.00 each in Bas Rakyat for a cash consideration of RM99,998 only. The total issued and paid-up capital of Bas Rakyat now stands at 100,000 shares of RM1.00 each.
Bas Rakyat, a dormant company was incorporated in Malaysia on 12 August 2010 with an authorized capital of RM100,000 divided into 100,000 shares of RM1.00 each.
The proposed principal activity of Bas Rakyat is to provide land transport services for passengers.
The above acquisition is not expected to have any material effect on the earnings, net assets, share capital and major shareholding of Gunung for the financial year ending 31 December 2010.
None of the Directors, and/or major shareholders or person connected to the Directors and/or major shareholders has any interest, whether direct or indirect, in the above acquisition.
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