OTHERS INCORPORATION OF A NEW WHOLLY-OWNED SUBSIDIARY COMPANY

IRE-TEX CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description INCORPORATION OF A NEW WHOLLY-OWNED SUBSIDIARY COMPANY

1.        INTRODUCTION 

The Board of Directors of Ire-Tex Corporation Berhad ("ITCB" or "the Company") wishes to announce that the Company had on 18 March 2015, subscribed 50,000 ordinary shares of USD1 each, representing 100% equity interest in ARIBAR INVESTMENT LTD (“Aribar”). Consequent thereto, Aribar became a wholly-owned subsidiary of ITCB.

2.        INFORMATION OF ARIBAR

Aribar was incorporated on 2 January 2015 in the Territory of the British Virgin Islands under the BVI Business Companies Act, 2004 and activated on 18 March 2015. The present authorised and paid up share capital of Aribar are USD50,000 divided into 50,000 ordinary shares of USD1 each respectively.

Aribar has yet to commence its business operation and the intended principal activity of Aribar is investment holding.

3.        FINANCIAL EFFECTS

The incorporation of Aribar is not expected to have any material effects on the earnings per share, net assets per share, gearing and share capital and substantial shareholders’ shareholdings of ITCB for the financial year ending 31 December 2015.

4.        APPROVALS REQUIRED 

The incorporation of Aribar is not subject to the approval of any governmental authorities or the shareholders of the Company.

5.        DIRECTORS' AND MAJOR SHAREHOLDERS' AND/OR PERSONS CONNECTED WITH A DIRECTOR OR MAJOR SHAREHOLDERS’ INTERESTS

None of the Directors and major shareholders or persons connected to the Directors or major shareholders of the Company has any interests, direct or indirect, in the incorporation.

6.        DIRECTORS' STATEMENT

The Board of Directors of ITCB is of the opinion that the incorporation is in the best interest of the Company.

This announcement is dated 18 March 2015.

 

 

 

 

 

 

 

 

 

 

 

 



Announcement Info

Company Name IRE-TEX CORPORATION BERHAD  
Stock Name IRETEX    
Date Announced 18 Mar 2015  
Category General Announcement
Reference No CC-150318-62914