NEWS DETAIL
| Acquisition of a new wholly-owned subsidiary company |
| 4 Jul 2008 |
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Pursuant to paragraph 9.19 (23) of the Listing
Requirements of the Bursa Malaysia Securities Berhad, the Board of Directors of
Hap Seng Plantations Holdings Berhad ["the Company"] is pleased to
announce that the Company has on even date acquired the entire issued and
paid-up share capital of Oriental Continent Sdn Bhd (821153-W) ["Oriental
Continent"] at a cash consideration of Ringgit Malaysia Two only (RM2.00) which
consideration is arrived at on a willing-buyer-willing-seller basis.
Oriental Continent is a private limited company incorporated in Malaysia on 11 June 2008. It has an authorised share capital of RM100,000 divided into 100,000 ordinary shares of RM1.00 each and an issued and paid-up share capital of RM2.00 comprising 2 ordinary shares of RM1.00 each. Oriental Continent is currently dormant. To the best of the knowledge of the directors, none of the directors or major shareholders or persons connected to the directors or major shareholders of the Company has any interest, direct or indirect, in the aforesaid acquisition. |
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