News

1.       INTRODUCTION

The board of directors (the “Board”) of Pentamaster Corporation Berhad ("PCB" or "the Company") wishes to announce that Pentamaster International Limited (“PIL”), a subsidiary of PCB in which PCB holds 64.36% equity interest, has on 6 July 2020 incorporated a new wholly-owned subsidiary, Pentamaster MediQ Sdn. Bhd. (“PDSB”) (the “Incorporation”).

2.       INFORMATION ON PDSB

PDSB is a private limited company incorporated in Malaysia under the Companies Act 2016 on 3 July 2020 and its principal activities are designing and manufacturing of single-use medical devices, medical equipment and related instruments.

The share capital of PDSB is RM2 comprising of 2 ordinary shares, all of which are held by PIL.

3.       RATIONALE FOR THE INCORPORATION

The incorporation of PDSB is to further expand PCB Group’s involvement in the medical sector and to further strengthen its medical design and manufacturing technology capabilities in the medical industry by leveraging on the Company’s existing platform to position itself for its next level of growth.

4.       FINANCIAL EFFECTS

The incorporation is funded through internally generated funds and it is not expected to have any material effect on the earnings per share, net assets per share and gearing of the Company for the financial year ending 31 December 2020. The Incorporation will not have any effect on the share capital and substantial shareholders’ shareholding of PCB.

5.       APPROVALS REQUIRED

The Incorporation is not subject to the approval of any governmental authorities or the shareholders of PCB. 

6.       INTEREST OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH THEM

Save for Mr. Chuah Choon Bin, a director of PCB who is also a director of PDSB, none of the directors and/or major shareholders of PCB and/or persons connected with them have any interest, whether direct or indirect, in the Incorporation.

7.       DIRECTORS’ STATEMENT

The Board, after taking into consideration all aspects of the Incorporation, is of the opinion that the Incorporation is in the best interests of PCB.

This announcement is dated 6 July 2020.