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Back12 Oct 2012
Type Announcement
Subject OTHERS
Description Acquisition of new subsidiary namely Inspirasi Sutera Sdn. Bhd. by QL Endau Marine Products Sdn. Bhd., a subsidiary of QL Resources Berhad ("QL")

The Board of Directors of QL is pleased to announce that its 70.59% owned subsidiary, QL Endau Marine Products Sdn. Bhd. (“QLEMP”) had on 12 October 2012 acquired two (2) ordinary shares of RM1.00 each of Inspirasi Sutera Sdn. Bhd. (Company No. 751902-U) ("Inspirasi Sutera"), representing the entire issued and paid up share capital of Inspirasi Sutera from Heng Seng See and Chua Lee Guan for a total consideration of RM2.00.

Presently, QLEMP is a 70.59% owned subsidiary of QL Fishery Sdn. Bhd., which is a wholly-owned subsidiary of QL. 

The authorised share capital of Inspirasi Sutera is at RM100,000.00 comprising of 100,000 ordinary shares of RM1.00 each with an issued and paid up share capital of RM2.00 comprising 2 ordinary shares of RM1.00 each. It is a dormant company.


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 2013.


The Directors of QL are of the opinion that the above acquisition is in the best interest of QL. The above acquisition is not subject to QL’s shareholders’ approval.


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 above acquisition.

This announcement is dated 12 October 2012.

 


Announcement Info

Company Name QL RESOURCES BERHAD  
Stock Name QL    
Date Announced 12 Oct 2012  
Category General Announcement
Reference No QR-121008-34036