Joint venture cum shareholders agreement with Aerosun Corporation, Aerosun (Hong Kong) Co., Limited, and Gameladha Nasiriffin Bin Arifin ("JVA")

UZMA BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-23012017-00003
Subject Joint venture cum shareholders agreement with Aerosun Corporation, Aerosun (Hong Kong) Co., Limited, and Gameladha Nasiriffin Bin Arifin ("JVA")
Description
ADDITIONAL INFORMATION - ENTRY INTO A JOINT VENTURE
Query Letter Contents

We refer to your Company’s announcement dated 20 January 2017 in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

  1. Details of Aerosun Corporation.
  2. The eventual issued and paid-up capital of Aerosun Uzma.
  3. The effect of the JVA on earnings per share of Uzma Berhad group.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully

TAN YEW ENG
Vice President, Issuers
Listing Division, Regulation

TYE/NMA

Cc : Market Surveillance Dept., Securities Commission (via fax)

The Board of Directors of Uzma Berhad (“Uzma”) wishes to announce on the following additional information pertaining to the JVA:-

1.         Details of Aerosun Corporation

Aerosun Corporation (“Aerosun”), the Holding Company of Aerosun (Hong Kong) Co., Limited, is a Public Listed Company on Shanghai stock exchange, incorporated in and under the laws of the People’s Republic of China and has entered into a joint development with Petronas Carigali Sdn. Bhd. in respect of non- metallic pipelines systems for offshore use.

Aerosun wished to establish it presence in Malaysia by way of joint venture with Uzma for pipeline applications and other related business in its capabilities and to carry out the business accordingly.

2.         The eventual issued and paid-up capital of Aerosun Uzma Malaysia Sdn. Bhd. (“Aerosun Uzma”)

The eventual issued and paid-up capital of Aerosun Uzma after the subscription of additional shares by the three JV parties in their respective shareholding proportion would be RM500,000 divided into 500,000 ordinary shares of RM1.00 each.

3.         The effect of the JVA on earnings per share of Uzma Berhad group.

The joint venture is not expected to have any financial effects on earnings per share of Uzma Berhad group for the financial year ending 31 December 2017.

This announcement is dated 24 January 2017.





Announcement Info

Company Name UZMA BERHAD
Stock Name UZMA
Date Announced 24 Jan 2017
Category General Announcement for PLC
Reference Number GA1-24012017-00065