Pursuant to paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Hap Seng Consolidated Berhad ("HSCB" / "the Company") is pleased to announce that its wholly-owned subsidiary, namely Hap Seng Land Development Sdn Bhd (94612-T) ("HSLD") has on even date acquired the entire issued share capital of Sunhill Ventures Sdn Bhd (1257565-U) ("Sunhill") comprising 1 ordinary share at a cash consideration of Ringgit Malaysia One only (RM1.00).

HSLD was incorporated in Malaysia as a private limited company on 20 December 1982. It has an issued share capital of RM10,000,000.00 comprising 10,000,000 ordinary shares. The principal activity of HSLD is investment holding. 

Sunhill was incorporated in Malaysia as a private limited company on 27 November 2017. As at the date hereof, it has an issued share capital of RM1.00 comprising 1 ordinary share. Sunhill is currently dormant and the said acquisition is to facilitate the Company’s business expansion.

To the best of the knowledge of the directors, none of the directors or major shareholders or persons connected to the directors or major shareholders of the Company has any interests, direct or indirect, in the said acquisition.

cc: Securities Commission