OTHERS DISPOSAL OF ITS 51% EQUITY INTERESTS IN HWG TIN MINING SDN BHD
|HO WAH GENTING BERHAD|
DISPOSAL OF ITS 51% EQUITY INTERESTS IN HWG TIN MINING SDN BHD
Further to the Company's announcement on 19 November 2018 pertaining to the Disposal of 51% equity interests in HWG Tin Mining Sdn Bhd ("HWGTM") ("Disposal"), the Board of Directors wishes to provide the following additonal information on the Disposal:
1. Date of the Company investment in HWGTM was on 7 July 2007;
2. Loss on Disposal of approximately RM25.89 million was derived at - Please refer to PDF file attached.
3. Total amount of shareholder's advances owing by HWGTM to the Company as at 19 November 2018 stood at RM55,219,937.
4. No approval from relevant authority is required for the Disposal.
Please refer attachment below.
|Company Name||HO WAH GENTING BERHAD|
|Date Announced||21 Nov 2018|
|Category||General Announcement for PLC|