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The Board of Directors of QL is pleased to announce that its subsidiary, QL Plantation Sdn. Bhd. (Company No. 50414-M) had on 14 April 2010 acquired two (2) ordinary shares of RM1.00 each of Utusan Ceria Sdn. Bhd. (Company No. 892200-D)("UC")and Rentak Prisma Sdn. Bhd. (Company No.891654-X)("RP"), representing the entire issued and paid up capital of the respective companies from Salasiah Binti Mohd Said and Asiah Binti Osman ("promoters")for a consideration of RM2.00 for each company. UC and RP were incorporated on 8 March 2010 and 4 March 2010 respectively.
Further, QL Palm Pellet Sdn. Bhd. (Company No.370984-W), a subsidiary of QL had on the same day acquired two (2) ordinary shares of RM1.00 each of Artisan Intelek Sdn. Bhd. (Company No. 891679-M)("AI"), representing the entire issued and paid up capital of AI from the same promoters mentioned above for a consideration of RM2.00.
The authorised share capital of UC, RP and AI 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 respectively. They are dormant companies.
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 ended 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 14 April 2010. |
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