NOVA MSC BERHAD
13 Feb 2009
|Subject||Nova MSC Signs a Joint Venture Agreement with Pengiran Anak Haji Abdul Wadood Bolkiah for the establishment and operation of a Joint Venture Company in Brunei Darussalam.|
|Contents||We refer to the announcements dated 6 October 2008 in relation to the Memorandum of Understanding signed with Pengiran Anak Haji Abdul Wadood Bolkiah for the establishment and operation of a Joint Venture Company in Brunei Darussalam.
Pursuant thereto, the Board of Directors of Nova MSC Berhad (“Company”) is pleased to announce that the Company and Pengiran Anak Haji Abdul Wadood Bolkiah has today signed a Joint Venture Agreement (“JVA”) to set up a joint venture company to be called Nova (B) Sdn Bhd (“Nova(B)”).
The initial paid-up capital of the joint-venture company will be B$30,000 divided into 30,000 ordinary shares of B$1.00 each. Pengiran Anak will hold 60% of Nova (B) while the Company will hold the 40% balance.
The main focus of Nova(B) market and deliver practical Information Technology solutions with the primary focus to sell and implement NovaMSC’s product and services in Brunei Darussalam.
The Company will be the leading implementation partner for Nova(B) for any IT-related businesses and will provide pre-sales, project implementation and second level technical maintenance support.
Effects of the JVA
a) On Share Capital and Substantial Shareholders’ Shareholding
b) On Earnings Per Share, Net Assets Per Share and Gearing
Directors’ and Major Shareholders’ Interests
Statement by the Board of Directors
This announcement is dated 13 February 2009.
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