OTHERS BIOALPHA HOLDINGS BERHAD ("BIOALPHA" OR "THE COMPANY") INCORPORATION OF NEW INDIRECT WHOLLY-OWNED SUBSIDIARY IN HONG KONG
BIOALPHA HOLDINGS BERHAD |
Type | Announcement |
Subject | OTHERS |
Description | BIOALPHA HOLDINGS BERHAD ("BIOALPHA" OR "THE COMPANY") INCORPORATION OF NEW INDIRECT WHOLLY-OWNED SUBSIDIARY IN HONG KONG |
1. INTRODUCTION
The Board of Directors of Bioalpha Holdings Berhad (“Bioalpha” or “the Company” wishes to announce that its wholly-owned subsidiary, Bioalpha (HK) Limited had on 16 September 2021 incorporated a new wholly-owned subsidiary in Hong Kong with the name of “BHK Development Limited” under the Companies Ordinance (Chapter 622 of the Laws of Hong Kong)(“the Incorporation”).
The intended principal activity BHK Development Limited is principally involved in the business relating to research and development activities, manufacturing, import and export and trading of goods including functional foods or healthcare products in China and land development which includes the construction of a new facility for processing and warehousing facilities.
2. RATIONALE FOR THE INCORPORATION
The purpose of the Incorporation is to expand Bioalpha business in Hong Kong, China.
3. FINANCIAL EFFECTS OF THE INCORPORATION
The Incorporation will not have any material effect on the earning per share, net assets per shares, gearing and substantial shareholders’ shareholding of the Company and its subsidiaries for the financial year ending 31 December 2021.
4. INTEREST OF DIRECTORS AND/OR SUBTANTIAL SHAREHOLDERS AND/OR PERSONS CONNECTED TO THEM
None of the Directors, major shareholders and persons connected with the Directors and/or substantial shareholders of Bioalpha, have any interest, direct or indirect, in the Incorporation.
5. STATEMENT BY DIRECTORS
The Board of Directors of Bioalpha is of the opinion that the Incorporation is in the best interest of the Company.
6. APPROVALS REQUIRED
The Incorporation n is not subject to the approval of the shareholders of Bioalpha or any governmental authorities.
This announcement is dated 20 September 2021. |
Announcement Info
Company Name | BIOALPHA HOLDINGS BERHAD |
Stock Name | BIOHLDG |
Date Announced | 20 Sep 2021 |
Category | General Announcement for PLC |
Reference Number | GA1-20092021-00045 |