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Provider: Affin Hwang Investment Bank Bhd

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Sunway Berhad's Indirect Subsidiary Announces Acquisition Of SWL Nominees (Tempatan) Sdn Bhd

Thursday, 23 May 2013 06:37am EDT 

Sunway Berhad announced that Sunway Leasing Sdn Bhd (Sunway Leasing), a wholly-owned subsidiary of Sunway Holdings Sdn Bhd (SunH) which in turn is a wholly-owned subsidiary of the Company has on May 23, 2013, acquired 2 ordinary shares of MYR1 each, representing 100% of the total issued and paid-up share capital of SWL Nominees (Tempatan) Sdn Bhd (SWL Nominees) from SunH, for a total cash consideration of MYR2 (Reorganisation Exercise). The purchase consideration is based on the cost of investment of SunH. SWL Nominees was incorporated on May 28, 1996 and its authorised and paid-up share capital are MYR1,000,000 and MYR2 respectively. The principal activity of SWL Nominees is provision of shares nominee services. Upon completion of the Reorganisation Exercise, SWL Nominees has become a direct subsidiary of Sunway Leasing. 

Company Quote

26 Dec 2014