Acquisition of 60% equity interest in Neogenix Laboratoire Sdn Bhd by Hs Bio Supplies Sdn Bhd (formerly known as HC MSC Sdn Bhd), a wholly-owned subsidiary of the Company (Proposed Acquisition)
| HONG SENG CONSOLIDATED BERHAD |
| Type | Reply to Query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-05012021-00002 |
| Subject | Acquisition of 60% equity interest in Neogenix Laboratoire Sdn Bhd by Hs Bio Supplies Sdn Bhd (formerly known as HC MSC Sdn Bhd), a wholly-owned subsidiary of the Company (Proposed Acquisition) |
| Description | REPLY TO THE QUERY FROM BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES")
HONG SENG CONSOLIDATED BERHAD (FORMERLY KNOWN AS MSCM HOLDINGS BERHAD) ("HONG SENG" OR THE "COMPANY") AND ITS SUBSIDIARIES ("HONG SENG GROUP" OR THE "GROUP") - PROPOSED ACQUISITION OF 60% EQUITY INTEREST IN NEOGENIX LABORATOIRE SDN BHD |
| Query Letter Contents | We refer to your Company’s announcement dated 31 December 2020 in respect of the aforesaid matter. In this connection, kindly furnish Bursa Securities with the following additional information for public release:-
Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.
Yours faithfully LISTING REGULATION
|
|
We refer to the Company's announcement made on 31 December 2020 (“Announcement”) and the query from Bursa Securities dated 5 January 2021 ("Query") in relation to the Proposed Acquisition of Neogenix.
Unless otherwise stated, defined terms used in this reply shall carry the same meanings as defined in the Announcement.
The Company wishes to provide the following additional information pursuant to the Query.
1. The breakdown of sources of funds to Hong Seng Consolidated Berhad for the Proposed Acquisition between internally generated funds and proceeds received from the conversion of irredeemable convertible preference shares.
Reply
The Company intends to fund the Purchase Consideration of RM6,500,000 for the Proposed Acquisition as below:
i) RM500,000 through internally generated fund; and
ii) RM6,000,000 through proceeds received from the conversion of irredeemable convertible preference shares.
|
|
Announcement Info
| Company Name | HONG SENG CONSOLIDATED BERHAD |
| Stock Name | HONGSENG |
| Date Announced | 06 Jan 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-06012021-00013 |