Purchase of a subsidiary company - Santopia Sdn Bhd (formerly known as Twice Delight Sdn Bhd)
Announcement Details/Table Section :
RPB Development Sdn Bhd, a wholly owned subsidiary of Reliance Pacific Berhad, purchased a company named Santopia Sdn Bhd (formerly known as Twice Delight Sdn Bhd [955932 M]) for a total consideration of RM2.00.
Santopia Sdn Bhd has an authorised and paid up share capital of RM100,000 and RM2.00 respectively.
The rationale for the acquisition is for future property investment.
There is no material effects on RPB's group earnings per share and net tangible assets per share for the financial year ended 31 March 2012.
There are no directors or substantial shareholders interest in respect of the aforesaid transaction.
There are no government authorities' approval, shareholders' approval and any other approvals required.
