OTHERS INCORPORATION OF A NEW SUB-SUBSIDIARY UNDER THE COMPANIES ACT 2016
|NEXGRAM HOLDINGS BERHAD|
INCORPORATION OF A NEW SUB-SUBSIDIARY UNDER THE COMPANIES ACT 2016
NEXGRAM HOLDINGS BERHAD (660055-H)
INCORPORATION OF A NEW SUB-SUBSIDIARY
NEXGRAM ZHIDA NEW ENERGY DEVELOPMENT SDN. BHD.
Announcement pursuant to Paragraph 9.19(24) of the Ace Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Nexgram Holdings Berhad (“NEXGRAM” or “the Company”) is pleased to announce that Nexgram had on 29 January 2019 incorporated a sub-subsidiary under the laws of the Companies Act 2016, namely Nexgram Zhida New Energy Development Sdn. Bhd. (Company No. 1312840-K) (“NEXGRAM ZHIDA”).
2. INFORMATION ON NEXGRAM ZHIDA NEW ENERGY DEVELOPMENT SDN. BHD.
NEXGRAM ZHIDA was incorporated as a Company Limited by Shares under the laws of Companies Act 2016 with an issued share capital of RM1,000.00 and in the business of distribution, manufacturing and marketing.
The Sole Director of NEXGRAM ZHIDA is as follows:
The Shareholder of NEXGRAM ZHIDA and its shareholding in NEXGRAM ZHIDA is as follows:
3. RATIONALE OF THE INCORPORATION
The purpose of incorporation of NEXGRAM ZHIDA is to expand NEXGRAM business as in carrying various business activities to generate more revenue.
4. FINANCIAL EFFECT OF THE INCORPORATION
The incorporation of NEXGRAM ZHIDA will not have any material effect on the share capital and substantial shareholders’ shareholdings of NEXGRAM, and is not expected to have any material effect on the earnings per share, net assets per share and gearing of the Group for the financial year ending 31 July 2019.
5. INTEREST OF DIRECTORS AND/OR SUBSTANTIAL SHAREHOLDERS AND/OR PERSONS CONNECTED TO THEM
Save for Haji Mazru Bin Mat Yusof, who is the Director of NEXGRAM and acting as NEXGRAM’s Representatives in NEXGRAM ZHIDA, has declared his interest by virtue of the fact that they are the first director in NEXGRAM ZHIDA, none of the Directors and/or substantial shareholders of NEXGRAM and/or persons connected with them have any interest direct or indirect, in the above incorporation.
6. STATEMENT BY THE BOARD OF DIRECTORS
The Board of Directors of NEXGRAM is of the opinion that the above incorporation is in the best interest of the Company.
This Announcement is dated 29 January 2019