Wah Seong Corporation Bhd Announces Deregistration Of Delco Papua New Guinea Limited

Wah Seong Corporation Bhd announced that Delco Papua New Guinea Limited (DelcoPNG), a dormant indirect wholly-owned subsidiary of the Company, has been deregistered on May 21, 2013 pursuant to Section 366(1)(d) of the Companies Act, 1997 in Papua New Guinea. The Letter of approval for deregistration was received on June 13, 2013 from the Registrar of Companies of Papua New Guinea. DelcoPNG was incorporated in Papua New Guinea on October 22, 2001 with a paid-up capital of PNG KINA 2.00 and is wholly-owned by WSIPL Australia Pty Ltd, a wholly-owned sub-subsidiary of the Company via Wah Seong International Pte Limited. The deregistration of DelcoPNG will not have any effect on the share capital and shareholdings of the substantial shareholders of WSC and will not have any financial impact on the gearing, earnings and net assets of WSC Group for the financial year ending December 31, 2013.