Dijaya Corp acquires a new subsidiary

KUALA LUMPUR: Dijaya Corporation Bhd (Dijaya Corp) acquired the entire issued and paid-up share capital of Autumn Craft Sdn Bhd (ACSB) for a cash consideration of RM2. This newly incorporated dormant company was set up for the purpose of future operations and expansions of Dijaya Corp, the company said in a Bursa announcement on May 25.

ACSB was incorporated in Malaysia with an authorized share capital of RM100,000 and paid-up share capital of RM2. Prior to the acquisition, the directors and shareholders of ACSB were Asiah Osman and Salasiah Mohd Said.

The acquisition is not expected to have any effect on the issued and paid-up share capital or substantial shareholders’ shareholdings of Dijaya Corp and is not expected to have any material effect on the net assets, gearing and earnings of the Group for the current financial year ending December 31, 2010.

Moreover, the acquisition is not subject to the approval of the shareholders of the Group and/or any other relevant government authorities in Malaysia.