TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS JOINT VENTURE BETWEEN ECM LIBRA FINANCIAL GROUP BERHAD AND PLATO CAPITAL LIMITED

Amended Announcements
Please refer to the earlier announcement reference number: GA1-16052018-00082

ECM LIBRA FINANCIAL GROUP BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
JOINT VENTURE BETWEEN ECM LIBRA FINANCIAL GROUP BERHAD AND PLATO CAPITAL LIMITED

The Board of Directors of ECM Libra Financial Group Berhad (the “Company”) is pleased to announce that the Company has on 16 May 2018 formed a joint venture company, Tune Plato Ventures Sdn Bhd (“JV Company”) in equal proportion (50:50) with Truesource Sdn Bhd, a wholly-owned subsidiary of Plato Capital Limited (“PCL”) (collectively, the Company and Truesource Sdn Bhd are referred to as the “JV Parties”) to venture into joint investments of up to RM14 million (the “Joint Venture”). Subsequent to the establishment of the JV Company, the JV Parties will participate up to RM7 million each, vide subscription of securities in the JV Company.

Please refer to the attachment for the details of the Joint Venture. 

This announcement is dated 16 May 2018.

The announcement was amended to state "joint investments of up to RM14 million" instead of "joint investments of up to RM14". The paragraph 1 on introduction in the attachment was similary amended.

 




Please refer attachment below.



Announcement Info

Company Name ECM LIBRA FINANCIAL GROUP BERHAD
Stock Name ECM
Date Announced 16 May 2018
Category General Announcement for PLC
Reference Number GA1-16052018-00096