SINGAPORE: The Board of Directors of Boustead Projects Limited has announce that the Company’s 100% owned subsidiary in Malaysia, BP Lands Sdn Bhd, has incorporated a wholly-owned subsidiary in Malaysia known as BP Aerotech (Subang) Sdn Bhd (BP Aerotech).
The principal activity of BP Aerotech is that of an investment holding company. BP Aerotech’s initial issued and paid-up capital is MYR10.00, comprising ten (10) ordinary shares of MYR1.00 per share.
The incorporation of BP Aerotech is not expected to have any material impact on the Group’s earnings per share or net tangible asset value per share for the financial year ending March 31, 2019.
None of the directors or controlling shareholders of the Company has any interest, direct or indirect, in the transaction.