ITJSB was incorporated in Malaysia on
25 October 1999. The principal activity of ITJSB is manufacturing of packaging
materials and related products.
The authorized share capital of ITJSB
is RM5,000,000 consisting of 5,000,000 ordinary shares of RM1.00 each.
Prior to the Acquisition, the issued
and paid-up share capital of ITJSB was RM2,000,000 comprising 2,000,000
ordinary shares of RM1.00 each and ITCB held 1,400,000 ordinary shares of
RM1.00 each representing 70% of the total shareholding of ITJSB. With the
Acquisition ITJSB has become a wholly owned subsidiary of ITCB.
After the Increase in Share Capital,
the issued and paid-up share capital of ITJSB is currently RM3,000,000
comprising 3,000,000 ordinary shares of RM1.00 each.
The purchase consideration for the
Acquisition was arrived at on a willing seller and willing buyer basis.