The Board of Directors of SCB wishes to announce that SMC BATU KAWAN, a wholly-owned subsidiary of SAHSB, a wholly-owned subsidiary of SCB has on 21 October 2019 increased its issued share capital to RM1,000.00 by issuance of additional 900 ordinary shares at an issued price of RM1.00 per share. Out of 900 ordinary shares, 600 ordinary shares had been taken up by SAHSB for an aggregate subscription price of RM600.00, thereby increasing SAHSB’s investment in SMC BATU KAWAN from RM100.00 to RM700.00 and 300 ordinary shares had been taken up by Oasis Glory Sdn. Bhd. (“OGSB”) for an aggregate subscription price of RM300.00 (“the Subscriptions”). The aggregate subscription price was paid in full in cash by both SAHSB and OGSB.

OGSB was incorporated in Malaysia as a private limited company on 14 October, 2011. The principal activity of OGSB is investment holding. The issued share capital of OGSB is RM2.00 comprising of 2 ordinary shares.

The Directors and Shareholders of OGSB are Mr. Chuah Chew Hai and Ms. Chuah Peak San and each of them hold one ordinary share each in OGSB. Both of them are non-related parties to SCB group of companies.

With the cooperation between SAHSB and OGSB, it will increase the operational efficiently of the Company’s healthcare business as the shareholders and the directors of OGSB have access and are familiar with land locations in Penang. As such, OGSB would be able to contribute in terms of suitable locations in Penang for the purpose of setting up hospitals and clinics.

The Subscriptions, upon completion, will reduce SAHSB’s investment in SMC Batu Kawan from 100% to 70% as shown below :-

None of the Directors, major shareholders of the Company and/or persons connected to the Directors and/or major shareholders has any interest, direct or indirect in the Subscription.

The Board of Directors of the Company having considered all aspects of the Subscription is of the opinion that the Subscription is in the best interest of SCB Group.

This announcement is dated 21 October 2019.