The Board of Directors of D & O Green Technologies Berhad (“D&O”) wishes to announce that a new sub-subsidiary, “Dominant Opto Technologies North America Inc (“Dominant USA”) was incorporated in the State of Nevada, United States of America on 15 October 2012. Notification of the incorporation was received on 23 October 2012. Dominant USA is wholly owned by Dominant Opto Technologies Sdn Bhd (“Dominant”) a 63.46% subsidiary owned by D&O.
The nature of business of Dominant USA is Sales and Service on Semiconductors Products.
Sources of Fund
The estimated cost of investment is USD100,000 which will be funded by internally generated funds.
General Business Risks
Dominant USA’s revenue and operating results are exposed to general business risk as well as certain risk inherent in the semiconductor industry. These may include, amongst others, intensity of competition, changes in technology and changes in general economic, business and
There can be no assurance that the anticipated benefits of the Investment will be realized, or Dominant USA will be able to generate sufficient revenue in future to offset the investment cost incurred by Dominant.
Share Capital and Substantial Shareholders’ Shareholding
The new incorporation does not have any effect on the share capital and substantial shareholders’ shareholding of D&O.
Earnings, Net Assets and Gearing
The new incorporation does not expect to have any material effect on the consolidated earnings,
net assets and gearing of D&O for the financial year ended 31 December 2012.
The new incorporation is not subject to the approval of shareholders and the relevant Malaysia government authorities.
Directors’ and Substantial Shareholders’ Interests
None of the Directors and/or major shareholders of D&O and/or persons connected with them have any interest, direct or indirect, in the said new incorporation.
With the establishment of Dominant USA, Dominant would be able to better market penetration and generate more revenue in this region.
Statement by Directors
The Board of Directors of D&O is of the opinion that the incorporation of Dominant USA is in the best interest of D&O.
This announcement is dated 8 January 2013