TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS CHIN HIN GROUP BERHAD ("CHIN HIN") PROPOSED SUBSCRIPTION OF THIRTY PER CENT (30%) EQUITY IN STARKEN PHILIPPINESS INC, BY STARKEN AAC SDN. BHD. (STARKEN AAC), A DIRECT WHOLLY-OWNED SUBSIDIARY OF CHIN HIN (PROPOSED SUBSCRIPTION)
| CHIN HIN GROUP BERHAD |
| Type | Announcement |
| Subject | TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS |
| Description | CHIN HIN GROUP BERHAD ("CHIN HIN")
PROPOSED SUBSCRIPTION OF THIRTY PER CENT (30%) EQUITY IN STARKEN PHILIPPINESS INC, BY STARKEN AAC SDN. BHD. (STARKEN AAC), A DIRECT WHOLLY-OWNED SUBSIDIARY OF CHIN HIN (PROPOSED SUBSCRIPTION) |
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Reference is made to the announcements dated 20 June 2019 and 11 November 2019 made by Chin Hin (“Announcement”).
As disclosed in the Announcements, the completion of the Proposed Subscription is expected to take place by third quarter of 2019 and first quarter of 2020 respectively.
However, as more time is required to fulfil the relevant conditions in the subscription agreement dated 19 June 2019 entered between Starken AAC and Starken Philippines Inc. (Company Registration No. CS201614652) (“Starken Philippines”) due to Covid-19 pandemic.
In this regard, barring any unforeseen circumstances, the Proposed Subscription is expected to be completed by second quarter of 2020
This announcement is dated 18 March 2020. |
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Announcement Info
| Company Name | CHIN HIN GROUP BERHAD |
| Stock Name | CHINHIN |
| Date Announced | 18 Mar 2020 |
| Category | General Announcement for PLC |
| Reference Number | GA1-21022020-00012 |