MFCB

4.340

-0.08 (-1.8%)

OTHERS ACQUISITION OF SUBSIDIARY, MF SOLAR SDN BHD

MEGA FIRST CORPORATION BERHAD

Type Announcement
Subject OTHERS
Description
ACQUISITION OF SUBSIDIARY, MF SOLAR SDN BHD

Mega First Corporation Berhad ("MFCB”) wishes to announce that its indirect 55%-owned subsidiary, MFP Solar Sdn Bhd ("MFP Solar") had on  16 July 2020 acquired the entire issued and paid-up share capital comprising 100 ordinary shares in MF Solar Sdn Bhd ("MF") for a total cash consideration of RM100.00 (“Acquisition”). As a result of the Acquisition, MF becomes a wholly-owned subsidiary of MFP Solar.

MF was incorporated on 9 June 2020 under the Companies Act 2016 and is presently dormant and its intended principal activity is to undertake Solar Photovoltaic business and activities incidental thereto.

The Acquisition of MF is not expected to have any material effect on the earnings or net assets of MFCB Group for the financial year ending 31 December 2020.

None of the Directors or major shareholders of MFCB or persons connected with them has any interest, direct or indirect, in the Acquisition.

 






Announcement Info

Company Name MEGA FIRST CORPORATION BERHAD
Stock Name MFCB
Date Announced 17 Jul 2020
Category General Announcement for PLC
Reference Number GA1-17072020-00015