Koon Holdings Ltd Announces Change Of Name Of Subsidiary And Completion Of Acquisition Of Interests In Properties In Malaysia

Koon Holdings Ltd announced that the wholly owned subsidiary of the Company, Gems Marine Pte Ltd, has changed its name and is now known as Koon Properties Pte. Ltd. (Koon Properties) with effect from December 3, 2012. Koon Properties remains a wholly owned subsidiary of the Company. The above change of name was made as the Company has nominated Koon Properties to be the transferee in the acquisition of the entire issued share capital of the Malaysian Companies, which collectively own the entire interests in the Malaysian Properties, by the Company from Ang Sin Liu Construction (Pte) Ltd. As such, the principal activity of Koon Properties (as registered with the Accounting and Corporate Regulatory Authority of Singapore) has been changed to “Investment Holding Companies”. The Company also announced that the Acquisition has been completed today, December 7, 2012, and accordingly, the entire issued share capital of the Malaysian Properties is now owned by Koon Properties.