The Board of Directors of MBMR wishes to announce that the Company has incorporated a new subsidiary, Menara MBMR Holdings Sdn. Bhd. (“MMHSB”). The date of incorporation is 20 August 2014 with the initial authorised capital of RM400,000.00 divided into four hundred thousand (400,000) ordinary shares of RM1.00 each. The issued and paid-up capital is RM100,000.00 divided into one hundred thousand (100,000) ordinary shares of RM1.00 each. The shareholders of MMHSB are MBMR (70%), Teknikhas Holdings Sdn. Bhd. (“THSB”) (20%) and Meridian Residence Sdn. Bhd. (“MRSB”) (10%). The principal activity of MMHSB is property management and maintenance of Menara MBMR.

THSB and MRSB are also presently shareholders of Inai Benua Sdn. Bhd. (“IBSB”), a 70% owned subsidiary of MBMR, with shareholdings of 20% and 10% respectively. On 17 November 2008, MBMR, THSB, MRSB and IBSB entered into a Shareholders’ Agreement to jointly develop Lot 15 (No. 9 Jalan Klang, Kuala Lumpur where the former showroom, workshop and office of Federal Auto Holdings Berhad (“FAHB”), a wholly-owned subsidiary of MBMR, were situated) and the surrounding land. That development, named Menara MBMR, comprises a high-rise commercial office block with showrooms on the ground floor for owner occupation, sale or rent. 

The incorporation of MMHSB is not expected to have any material effect on the earnings, net assets and gearing of MBMR for the current financial year ending 31 December 2014. There is no effect on the issued and paid-up share capital and the substantial shareholders’ shareholding in MBMR.

There are no liabilities to be assumed by MBMR as a result of the incorporation of MMHSB.

None of the Directors or major shareholders of MBMR or persons connected to them have any direct or indirect interest in the incorporation.

This announcement is dated 21 August 2014.