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The Board of Directors of QL is pleased to announce that its wholly owned subsidiary, QL Foods Sdn. Bhd. (Company No. 313104-W) had on 9 November 2009 acquired two (2) ordinary shares of RM1.00 each of Glamour Harmony Sdn. Bhd. (Company No.873095-D)("GH"), representing the entire issued and paid up capital from Tan Wang Tiang and Ng Lui Keng@ Ng Joo Keng for a consideration of RM2.00. GH was incorporated on 24 September 2009.
It is intended that subject to the approval from Companies Commission of Malaysia ("CCM") GH to change its name to "QL Aquaculture Sdn. Bhd." to reflect its intended principal activities of aquaculture.
The authorised share capital of GH is at RM100,000.00 comprising of 100,000 ordinary shares of RM1.00 each with an issued and paid up capital of RM2.00 comprising 2 ordinary shares of RM1.00 each.
The above acquisition does not have any effect on the issued and paid up share capital of QL and has no material effect on the earnings and net assets of QL Group for the financial year ending 31 March 2010.
The Directors of QL are of the opinion that the above acquisitions are in the best interest of QL.
None of the directors and/or substantial shareholder of QL, or persons connected to such director and/or substantial shareholders has any interest, direct or indirect, in the acquisition.
This announcement is dated 10 November 2009. |
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