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Eversendai Corporation Bhd, Eversendai Construction (S) Pte. Ltd. And Technics Oil & Gas Limited Announce Joint Incorporated Company


Wednesday, 10 Apr 2013 05:13am EDT 

Eversendai Corporation Bhd announced that the Company and its wholly owned subsidiary, namely Eversendai Construction (S) Pte. Ltd. (ECS), as well as Technics Oil & Gas Limited (Technics) had jointly incorporated a company in Malaysia, named Eversendai Technics Sdn Bhd (ETSB), with a paid up capital of RM10.00 divided into ten ordinary shares of RM1.00 each. The authorised share capital of ETSB is RM5,000,000.00 divided into 5,000,000 ordinary shares of RM1.00 each. ECB and Technics intends to respectively subscribe to a further 699,993 ordinary shares of RM1.00 each and 299,997 ordinary shares of RM1.00 each in ETSB. The equity participation by ECB, ECS and Technics in ETSB shall be as follows: ECB will hold 699,999 shares, representing 69.9999% interest, ECS will hold 1 shares, representing 0.0001% interest, Technics will hold 300,000 shares representing 30.0000% interest. ETSB will be principally engaged in the provision of businesses relating to engineering, procurement, construction and fabrication services for the oil and gas industry. The cost of equity participation by ECB and ECS in ETSB of RM700,000.00 will be financed through internally generated funds. 

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25 Nov 2014