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Company Name
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AHMAD ZAKI RESOURCES BERHAD
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Stock Name
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AZRB
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Date Announced
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30/08/2013
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Type
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Announcement
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Subject
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Description
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INVESTMENT IN NEW SUBSIDIARY
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Announcement Details/Table Section :
The Board of Directors of Ahmad Zaki Resources Berhad ("AZRB" or "the Company") wishes to announce that its wholly-owned subsidiary, Ahmad Zaki Sdn Bhd ("AZSB") has on 30 August 2013 acquired two (2) shares of RM1 each representing 100% of the issued and paid-up share capital of Peninsular Precast Sdn Bhd ("Peninsular Precast") for a cash consideration of RM2 only ("the Acquisition")
Peninsular Precast was incorporated on 11 December 2012 with an authorised share capital of RM100,000 divided into 100,000 ordinary shares of RM1 each and issued and paid-up share capital of RM2 divided into two (2) ordinary shares of RM1 each.
Subsequently, the paid-up share capital was increased up to RM100,000 divided into 100,000 ordinary shares of RM1 each. AZSB has subscribed RM80,000 new shares divided into 80,000 ordinary shares of RM1 each in Peninsular Precast. Following to the subscription of the new shares, Peninsular Precast will be an 80% subsidiary of AZSB.
The principal activities of Peninsular Precast are principally engaged in the fabricating and marketing of Industrial Building Products and System ("IBS") and undertaking any other activities relating the development of the IBS.
The acquisition of subsidiary does not have any material impact on the earnings and the net assets of AZRB.
Save for Dato' W Zulkifli bin Haji W Muda, who is a common director and shareholder in AZRB and Peninsular Precast, none of the directors and/or major shareholders of AZRB and persons connected with them have any interest, direct or indirect in the Acquisition of the aforesaid subsidiary.
The Directors of AZRB is of the opinion that the investment in Peninsular Precast is in the best interest of the Company.
This announcement is dated 30 August 2013
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© 2013, Bursa Malaysia Berhad. All Rights Reserved.
distributed by
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AHMAD ZAKI RESOURCES 
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