OTHERS MESB BERHAD (“MESB” or “the Company”) INCORPORATION OF A WHOLLY-OWNED SUBSIDIARY – MESB RESOURCES SDN. BHD. (“MESB Resources”)
| Type | Announcement |
| Subject | OTHERS |
| Description | MESB BERHAD (“MESB” or “the Company”)
INCORPORATION OF A WHOLLY-OWNED SUBSIDIARY – MESB RESOURCES SDN. BHD. (“MESB Resources”) |
| 1. INTRODUCTION
The Board of Directors of MESB wishes to announce that the Company had incorporated a wholly-owned subsidiary known as MESB Resources. 2. BACKGROUND INFORMATION ON MESB RESOURCES MESB Resources was incorporated in Malaysia under the Companies Act 2016 on 5 February 2021. The issued share capital is RM2.00 divided into 2 ordinary share of RM1 each. The paid up will be increased to RM100,000 within a month. The intended principal activity of MESB Resources is Waste Recycling Management. 3. FINANCIAL EFFECT OF THE INCORPORATION The incorporation of MESB Resources is not expected to have any material effects on the earnings or net assets of the Company for the financial year ending 30 June 2021. 4. APPROVAL The Incorporation does not require the approval of the Shareholders of MESB. 5. DIRECTORS’ AND SUBSTANTIAL SHAREHOLDERS’ INTERESTS Other than their respective interests through MESB, none of the Directors and/or major shareholders or persons connected to them has any interests, direct or indirect, in the aforesaid incorporation. 6. STATEMENT BY DIRECTORS The Board of Directors is of the opinion that the incorporation is in the best interest of the Company.
This announcement is dated 11 February 2021. |
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