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NewsSouthern Acids acquires indirect subsidiary for RM136.9 million
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Southern Acids acquires indirect subsidiary for RM136.9 million
by Cals Fri 28 Mar 2014, 19:17
| Southern Acids acquires indirect subsidiary for RM136.9 million |
| Business & Markets 2014 |
| Written by Jonathan Gan of theedgemalaysia.com |
| Friday, 28 March 2014 18:25 |
KUALA LUMPUR (Mar 28): Southern Acids Bhd (SAB) has acquired Pembinaan Gejati Sdn Bhd (PGSB), an indirect 100 per cent-owned subsidiary, for RM136.9 million settled via cash and intercompany set-offs.
It said in a filing with Bursa today that it had on 25 March 2014 subscribed to 136,900,000 new ordinary shares of RM1.00 each in Pembinaan Gejati Sdn Bhd (“PGSB”), which was "settled via a combination of cash consideration and intercompany set-offs.”
“With the completion of the subscription of new shares, PGSB is now a direct 99% owned subsidiary of SAB whereas the new paid up capital of PGSB is RM137,000.00.00 comprising 137,000,000 ordinary shares of RM1.00 each,” said the statement.
SAB and its subsidiaries which are involved in oleochemicals, healthcare, plantations & milling also have investments in other palm oil related sectors, both locally and abroad.
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