CHINHIN

4.360

(%)

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")

Reference is made to the announcements dated 20 June 2019, 11 November 2019 and 18 March 2020 made by Chin Hin.

 

The delay 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) is mainly due to Covid - 19 pandemic which has caused lockdown in Philippines that delayed the approval for foreign shareholding participation from the foreign investment committee of Philippines.

 

This announcement is dated 19 March 2020.






Announcement Info

Company Name CHIN HIN GROUP BERHAD
Stock Name CHINHIN
Date Announced 19 Mar 2020
Category General Announcement for PLC
Reference Number GA1-19032020-00044