HONGSENG

1.490

-0.24 (-13.9%)

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:-

  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.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully

LISTING

REGULATION


Cc : Market Surveillance Dept., Securities Commission (via fax)

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