News
ESTABLISHMENT OF A WHOLLY FOREIGN-OWNED ENTERPRISE BY PENTAMASTER TECHNOLOGY (M) SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF PENTAMASTER INTERNATIONAL LIMITED, WHICH IN TURN IS A SUBSIDIARY OF PCB
| Type | Announcement |
| Subject | OTHERS |
| Description | PENTAMASTER CORPORATION BERHAD ("PCB" OR THE "COMPANY") - ESTABLISHMENT OF A WHOLLY FOREIGN-OWNED ENTERPRISE BY PENTAMASTER TECHNOLOGY (M) SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF PENTAMASTER INTERNATIONAL LIMITED, WHICH IN TURN IS A SUBSIDIARY OF PCB |
The Board of Directors of PCB wishes to announce that Pentamaster Technology (M) Sdn. Bhd. (“PT”), a wholly owned subsidiary of Pentamaster International Limited, which in turn is a subsidiary of PCB, had on 25 April 2021 established a wholly foreign-owned enterprise, Pentamaster Technology (Jiangsu) Limited (“PT Jiangsu”), in the People’s Republic of China (the “PRC”) (the “Establishment”).
PT Jiangsu is a limited liability company established on 25 April 2021 in accordance with the Company Law of the PRC and other relevant laws and regulations of the PRC. The principal activity of PT Jiangsu involves the research and development, manufacturing and sales of automated testing equipment and automation solutions in the field of science and technology, as well as providing technical services, development, consulting and other businesses. The registered capital of PT Jiangsu is US$3,000,000 with its paid up capital of not less than US$450,000 to be paid by 30 June 2021 and the balance of the paid up capital to be paid progressively with the development of PT Jiangsu.
The Establishment of PT Jiangsu is part of the Group’s Greater China expansion plan to broaden its presence in the region.
Save for Mr. Chuah Choon Bin and Ms. Gan Pei Joo, being Directors of the Company who are also directors of PT, none of the Directors and/or substantial shareholders of the Company and/or persons connected with them have any interest, whether direct or indirect, in the Establishment.
The Board of Directors, after taking into consideration all aspects of the Establishment, is of the opinion that the Establishment is in the best interests of the Company.
This announcement is dated 26 April 2021.
Announcement Info
| Company Name | PENTAMASTER CORPORATION BERHAD |
| Stock Name | PENTA |
| Date Announced | 26 Apr 2021 |
| Category | General Announcement for PLC |
| Reference Number | GA1-26042021-00059 |