News

The Board of Directors of APM Automotive Holdings Berhad (the “Company”) wish to announce that APM Automotive Global Ltd (“AAGL”) and APM Automotive International Limited (“AAIL”), two (2) wholly-owned subsidiaries of the Company, have jointly incorporated a new subsidiary in the State of Maharashtra under the jurisdiction of the Registrar of Companies, Pune, India by the name of APM Motors India Private Limited (Registration No. 174872) (“AMI”) on 22 February 2018, and subscribed for the entire issued and paid-up capital of AMI, representing 7,000 shares of Rs. 100 each for a total cash consideration of Rs.700,000 (equivalent to RM42,490) (“Incorporation of AMI”),  in the following proportions:

1. Subscription of 6,000 shares representing 90% equity interest in AMI by AAGL; and
2. Subscription of 1,000 shares representing 10% equity interest in AMI by AAIL.

AMI was incorporated as a private limited company to carry out the business of tooling & mould design, fabrication, repair and automotive parts manufacturing. The authorised share capital of AMI is Rs.1,000,000 divided into 10,000 shares of Rs. 100/- each of which 7,000 shares of Rs. 100/- each has been issued and fully paid-up.

The Incorporation of AMI would not have material effect on the Group’s earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding for the financial year ending 31 December 2018.

None of the Directors and/or major shareholders of the Company and/or persons connected with them have any interest, whether direct or indirect, in the Incorporation of AMI.

This announcement is dated 22 February 2018.