Home / Acquisition of the remaining 50% equity interest in Zipac Development Sdn. Bhd.

Acquisition of the remaining 50% equity interest in Zipac Development Sdn. Bhd.

The Board of Directors of the Tambun Indah is pleased to inform that the Company had, on 05 July 2017 acquired the remaining 50% equity interests in Zipac Development Sdn. Bhd. from Mr. Teoh Chin Liong and Mr. Teoh Chin Joo for a total cash consideration of RM292,801.21. With effect from the date of this announcement, Zipac Development Sdn. Bhd. is a wholly-owned subsidiary of the Company.

 

The transaction will not have any effect on the Company’s issued share capital and substantial shareholders’ shareholdings. There shall be no material effect on the earnings, net assets or gearing of the Group for the financial year ending 31 December 2017.

 

None of the directors and/or major shareholders of the Company or persons connected to them, have any interest, direct or indirect, in the transaction.

 

This announcement is dated 05 July 2017.

 

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