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Engtex Group Bhd Announces Acquisition Of Shares In Blue Legacy Sdn Bhd


Tuesday, 5 Feb 2013 04:54am EST 

Engtex Group Berhad (Engtex) had on February 5, 2013 acquired six ordinary shares of MYR1.00 each representing 60% equity interest in Blue Legacy Sdn Bhd (BLSB) from Lai See Chok for a cash consideration of MYR6.00. At the same time, East Coast Metals Sdn Bhd (ECMSB), a 60% subsidiary of Engtex had also acquired four ordinary shares of MYR1.00 each representing 40% equity interest in BLSB from Chuah Wan Yen for a cash consideration of MYR4.00. The purchase considerations were based on the par value of the shares in BLSB and were funded by internally generated fund. Following the Acquisition, the effective interest of Engtex in BLSB will be 84%. 

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