Download Incorporation of a new subsidiary, Yan Ou Marketing (Intl) Sdn. Bhd

Incorporation of a new subsidiary, Yan Ou Marketing (Intl) Sdn. Bhd.
1.
Introduction
The Board of Directors of Hai-O Enterprise Berhad (“Hai-O” or “the Company”)
wishes to announce that its 60% owned subsidiary, Yan Ou Holdings (M) Sdn. Bhd.
(“Yan Ou”) has duly incorporated a wholly-owned subsidiary, namely Yan Ou
Marketing (Intl) Sdn. Bhd. (“Yan Ou Marketing”) as per the Certificate of Incorporation
of Private Company (Form 9) dated 29 September 2016 issued by the Companies
Commission of Malaysia.
2.
Details of Yan Ou Marketing
The authorised share capital of Yan Ou Marketing is RM1,000,000.00 comprising
1,000,000 ordinary shares of RM1.00 each with an initial paid-up share capital of
RM2 comprising 2 ordinary shares of RM1.00 each.
The Company intends to increase the issued and paid-up share capital of Yan Ou
Marketing to RM1,000,000 comprising 1,000,000 ordinary shares of RM1.00 each
upon the shares duly transferred from the subscribers to Yan Ou on 30 September
2016.
The intended principal activities of Yan Ou Marketing would be trading and
distributing of birds’ nest and its related products and other health care products. Yan
Ou Marketing will be the marketing arm for Yan Ou to explore overseas markets.
3.
Financial Effects of Yan Ou Marketing
Yan Ou Marketing is not expected to have any material effect on the earnings and
net assets of Hai-O for the financial year ending 30 April 2017.
4.
Directors and Substantial Shareholders’ Interest
None of the Directors and/or substantial shareholders or persons connected to
them has any direct or indirect interest in Yan Ou Marketing.
5.
Statement by Directors
The Board of Directors is of the opinion that the incorporation of Yan Ou Marketing is
in the best interest of the Company.
This announcement is dated 30 September 2016.