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Hock Seng Lee Berhad is pleased to announce the incorporation of Bright Trenchless Engineering Sdn Bhd on 24 September 2009, an 80% subsidiary of Hock Seng Lee Berhad.
The present issued and paid-up capital of Bright Trenchless Engineering Sdn Bhd is RM1,000,000.00 comprising 1,000,000.00 ordinary shares of RM1.00 each. Hock Seng Lee Berhad subscribed to 80% of the issued and paid up capital of Bright Trenchless Engineering Sdn Bhd in cash. The principal activity of Bright Trenchless Engineering Sdn Bhd is pipe jacking and shaft construction. The remaining 20% of the issued and paid up share capital of the company is held by Mr Oh Lai Chuan, a Singaporean having vast experience in the pipe jacking and shaft construction.
The subscription is not expected to have any material effects on the earnings and net assets of Hock Seng Lee Berhad for the financial year ending 31 December 2009.
None of the directors or major shareholders of the Company or persons connected to them has any interest, direct or indirect, in the subscription.
This announcement is dated 28 September 2009. |
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