| Miscellaneous | |
| * Asterisks denote mandatory information | |
| Name of Announcer * | ASIATIC GROUP (HOLDINGS) LTD |
| Company Registration No. | 200209290R |
| Announcement submitted on behalf of | ASIATIC GROUP (HOLDINGS) LTD |
| Announcement is submitted with respect to * | ASIATIC GROUP (HOLDINGS) LTD |
| Announcement is submitted by * | Tan Sian Leong |
| Designation * | Company Secretary |
| Date & Time of Broacast | 04-Jan-2008 19:20:46 |
| Announcement No. | 00114 |
| Price Sensitivity | Yes |
| >> Announcement Details | |
| The details of the announcement start here ... |
| Announcement Title * | ADDITIONAL INVESTMENT IN WHOLLY-OWNED SUBSIDIARY |
| Description | The Board of Directors of Asiatic Group (Holdings) Limited (the "Company") is pleased to announce that the Company had increased its investment in its wholly-owned subsidiary Colben System Pte Ltd ("Colben") with a cash injection of S$3.295 million. Following the additional investment, the issued and paid-up capital of Colben is increased from S$1.705 million to S$5.0 million. The additional investment will ensure that Colben is appropriately capitalized in view of its current projects and to undertake further expansion opportunities in the region. Colben is the Company''s investment arm in the energy and power-related business with involvement in managing and operating power plants as well as undertaking power plant construction projects. The additional investment of S$3.295 million by the Company into Colben was funded from the proceeds of the zero coupon Convertible Bonds. The additional investment in Colben is not anticipated to have material financial impact on the Group''s performance for the current financial year. None of the substantial shareholders and/or directors of the Company have any interest, direct or indirect, in Colben other than through their respective shareholdings in the Company. By Order of the Board Tan Sian Leong Company Secretary 4 January 2008 |
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