News

1. INTRODUCTION

The Company is pleased to announce that today, it had received a notification from the Companies Commission of Malaysia that Prestariang Capital Sdn. Bhd. (“PCSB”), a wholly-owned subsidiary of the Company has been incorporated on 27 July 2017 in Malaysia under the Companies Act 2016 (hereinafter referred to as “the Incorporation”).

2. INFORMATION ON PCSB

PCSB has a total issued share capital of RM100. The principal activity of PCSB is investment holding.

3. RATIONALE FOR THE INCORPORATION

The incorporation of PCSB is in line with the expansion strategy of Prestariang Group that includes sourcing for potential investment beneficial to the Group.

4. FINANCIAL EFFECTS

The Incorporation is not expected to have any material effect on the earnings or net assets of PRESBHD.

5. DIRECTORS’ AND MAJOR SHAREHOLDERS’ AND/OR PERSONS CONNECTED WITH A DIRECTOR OR MAJOR SHARHOLDER’S INTERESTS

None of the Directors and/or Major Shareholders of PRESBHD and/or persons connected to them, has any interest, direct or indirect in the Incorporation.

6. STATEMENT BY THE BOARD OF DIRECTORS

The Board of Directors of PRESBHD is of the opinion that the Incorporation is in the best interest of PRESBHD Group.

This announcement is dated 2 August 2017.