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Transactions (Chapter 10 Of Listing Requirements) : Non Related Party Transactions

BackSep 14, 2017
Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description

SUBSCRIPTION OF SHARES IN CREC KNUSFORD (PHILIPPINES) INC.

Knusford Berhad (“KB”) wishes to announce that its wholly owned subsidiary, Knusford Project Management Sdn Bhd (“KPM”) had subscribed for 3,750 ordinary shares of PHP 100.00 each for the incorporation of CREC Knusford (Philippines) Inc., Philippines (“CKPI”) for a cash consideration of PHP 375,000.00 representing 30% of the total issued and paid up share capital of CKPI.

The Certificate of Registration of CKPI was issued by Philippines Securities and Exchange Commission on 31 August 2017 and was received on 14 September 2017. CKPI has an authorised share capital of PHP 5,000,000.00 comprising 50,000 ordinary shares of PHP100.00 each. CKPI’s proposed business activities are general contracting and construction management.

The shareholders of CKPI are as follows:

Name
Nationality
No. of Shares Issued and Paid-up
Total Paid-up (PHP)
CREC Philippine, Inc.

Filipino

7,000

700,000

Zhao XiaoPing

Chinese

1,250

125,000

Wang WeiWei

Chinese

125

12,500

Knusford Project Management Sdn Bhd

Malaysian

3,500

350,000

Chua Guit Hong *

Malaysian

125

12,500

Han Loong Kwang Clarence *

Singaporean

125

12,500

Maria Lucia Masanque Reyes

Filipino

125

12,500

Evelyn G. Mallari

Filipino

125

12,500

Edwin Betonio

Filipino

125

12,500

TOTAL

 

12,500

1,250,000

* Being shares held in trust for KPM

 

This announcement is dated 14 September 2017.





Announcement Info

Company Name KNUSFORD BERHAD
Stock Name KNUSFOR
Date Announced 14 Sep 2017
Category General Announcement for PLC
Reference Number GA1-14092017-00046

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