News

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.

Zhao XiaoPing

Wang WeiWei

Knusford Project Management Sdn Bhd

Chua Guit Hong *

Han Loong Kwang Clarence *

Maria Lucia Masanque Reyes

TOTAL

* Being shares held in trust for KPM

This announcement is dated 14 September 2017.