Contents :The Board of Directors of NV Multi Corporation Berhad ("NVMulti") wishes to announce that Nirvana Memorial Park Sdn Bhd ("NVMP"), a wholly-owned subsidiary of NVMulti, has on 26 January 2004 acquired two (2) ordinary shares of RM1.00 each in the issued and paid-up share capital of SK Global Sdn Bhd ("SKG") for a cash consideration of RM2.00 (Ringgit Malaysia Two Only). Upon the acquisition, NVMP holds the entire issued and paid-up share capital of SKG and SKG becomes the wholly owned subsidiary of NVMP.
SKG was incorporated in Malaysia on 5 November 2000. Presently, SKG, proposed to be renamed Nirvana Memorial Park (Shah Alam) Sdn Bhd (if approved by the Companies Commission Malaysia) has not commenced operations. The authorised share capital of SKG is RM100,000 comprising of 100,000 ordinary shares of RM1.00 each.
The above acquisition is not expected to have any material effect on the earnings and net tangible assets of NVMulti Group for the financial year ending 31 December 2004.
None of the Directors of NVMulti, substantial shareholders and persons connected with Directors and substantial shareholders of NVMulti has any interest, whether direct or indirect in the acquisition.
This announcement is dated 26 January 2004