NOVA MSC BERHAD
27 Oct 2015
The Board of Directors of Nova MSC Bhd (“the Company”) wishes to inform that the Company’s wholly owned subsidiary, novaCITYNETS Pte Ltd (“NCN”) had incorporated a wholly-owned limited liability company in the Lao People’s Democratic Republic with the following details:
Name of new subsidiary: novaBIM (Lao) Co., Ltd (“NBL”)
Principle activity: Provision of BIM service and information technology consultancy
Directors: Mr. Tan Yew Soon and Mr. Tan Chih Thong Eddy
At incorporation, the paid-up capital of NBL is USD40,000.
Rationale for the Incorporation of NBL
The incorporation of NBL is for the purpose of future expension of business.
Financial Effect of the Incorporation of NBL
The incorporation of NBL will not have any effect to the issued and paid-up capital of the Company as well as its substantial shareholders’ shareholding and is not expected to have a material effect on the earning, net assets and gearing of the Company and the Group for the financial year ending 31 March 2016.
Directors and Major Shareholder’ Interest
None of the other directors and/or major shareholders of the Company or persons connected to the directors and/or major shareholders of the Company have any interest, direct or indirect in the above transaction.
This announcement is dated 27 October 2015
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