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BackAug 02, 2013
Type Announcement
Subject OTHERS
Description Malaysia Building Society Berhad
- Acquisition of a subsidiary namely Jana Kapital Sdn Bhd (Company No.: 1042607-U)
The Board of Directors wishes to announce that Malaysia Building Society Berhad ("MBSB") had on 2 August 2013 acquired 2 ordinary shares of RM1.00 each, representing the entire issued and paid-up share capital of Jana Kapital Sdn Bhd (“Acquisition”).
Information on Jana Kapital Sdn Bhd

Jana Kapital Sdn Bhd ("Jana Kapital " or the “Company”) was incorporated on 16 April 2013 in Malaysia. The authorised share capital of Jana Kapital is RM400,000.00 divided into 400,000 ordinary shares of RM1.00 each. The issued and paid-up share capital of Jana Kapital is RM2.00 comprising 2 ordinary shares of RM1.00 each.

The principal activity of Jana Kapital is to undertake investment holding activities which includes, amongst others:-


(i) to carry on the business of acquiring and dealing with financing receivables on terms and consideration which the Company may deem fit; (ii) to raise financing to secure the payment and repayment of any financing incurred by the Company by mortgage, charge, pledge, debenture, lien, assignment or other form of security interest over or against the financing receivables, undertakings and all of its property, assets and rights, both present and future.

Rationale


Jana Kapital was acquired to facilitate MBSB’s fund raising exercise.


Financial Effects

The Acquisition will not have any material effect on the earnings per share, net assets per share, gearing and share capital of MBSB for the financial year ending 31 December 2013.

The Acquisition will not have any effect on the substantial shareholders’ shareholding of the Company.

Directors’ and/or Major Shareholders’ Interests


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

Approvals Required


The Acquisition is not subject to the approval of the shareholders of the Company or any other relevant authorities.

Statement by Directors


The Directors of MBSB, are of the opinion that the Acquisition is in the best interests of the Company.

This announcement is dated 2 August 2013.

 


Announcement Info

Company Name MALAYSIA BUILDING SOCIETY BERHAD  
Stock Name MBSB    
Date Announced 2 Aug 2013  
Category General Announcement
Reference No MB-130725-52025