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NewsJAKS Resources buys 2 shelf companies
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JAKS Resources buys 2 shelf companies
by Cals Thu 26 Dec 2013, 07:15
JAKS Resources buys 2 shelf companies
Posted on 25 December 2013 - 05:38am
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PETALING JAYA (Dec 25, 2013): JAKS Resources Bhd has acquired two self companies – Harbour Front Development Sdn Bhd and Premier Place Property Sdn Bhd – to facilitate its venture into property development.
JAKS, founded in 1987, is primarily engaged in the integrated water works industry. Besides water works, it has embarked on manufacturing of mild steel pipes and subsequently expanded into manufacturing of other steel products.
JAKS is implementing a business transformation plan, shifting its focus from manufacturing and trading to construction, property and power projects as new growth areas.
In a filing to Bursa Malaysia, JAKS said it acquired the companies at a consideration of RM2 each. The companies incorporated on Dec 19, 2013, will be wholly-owned subsidiaries of JAKS Resources and have an authorised capital of RM400,000 and issued and paid-up capital of RM2 each.
JAKS said the investment will not have any effect on the earnings per share, net assets per share or gearing of the group for the financial year ending Dec 31, 2013.
There will also be no changes to the share capital and substantial shareholders of JAKS.
[You must be registered and logged in to see this link.]
PETALING JAYA (Dec 25, 2013): JAKS Resources Bhd has acquired two self companies – Harbour Front Development Sdn Bhd and Premier Place Property Sdn Bhd – to facilitate its venture into property development.
JAKS, founded in 1987, is primarily engaged in the integrated water works industry. Besides water works, it has embarked on manufacturing of mild steel pipes and subsequently expanded into manufacturing of other steel products.
JAKS is implementing a business transformation plan, shifting its focus from manufacturing and trading to construction, property and power projects as new growth areas.
In a filing to Bursa Malaysia, JAKS said it acquired the companies at a consideration of RM2 each. The companies incorporated on Dec 19, 2013, will be wholly-owned subsidiaries of JAKS Resources and have an authorised capital of RM400,000 and issued and paid-up capital of RM2 each.
JAKS said the investment will not have any effect on the earnings per share, net assets per share or gearing of the group for the financial year ending Dec 31, 2013.
There will also be no changes to the share capital and substantial shareholders of JAKS.
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