MISCELLANEOUS :: INCREASE OF SHAREHOLDING IN SUBSIDIARY
* Asterisks denote mandatory information
Name of Announcer *
HONG LEONG ASIA LTD.
Company Registration No.
196300306G
Announcement submitted on behalf of
HONG LEONG ASIA LTD.
Announcement is submitted with respect to *
HONG LEONG ASIA LTD.
Announcement is submitted by *
NG SIEW PING, JASLIN
Designation *
COMPANY SECRETARY
Date & Time of Broadcast
10-Feb-2014 17:22:37
Announcement No.
00053
ANNOUNCEMENT DETAILS
Announcement Title *
Increase of Shareholding in Subsidiary
Description
The Board of Directors of Hong Leong Asia Ltd. (the Company) wishes to announce that Guangxi Yuchai Machinery Monopoly Development Co., Ltd (YMMDC), a subsidiary of China Yuchai International Limited, which in turn is a subsidiary of the Company, had together with its wholly-owned subsidiary, Guangzhou Tongju Commerce and Trade Company Limited (Guangzhou Tongju), acquired the remaining 40% equity interest in Shanghai Yuchai Jidian Marketing Company Limited (Shanghai Jidian) (the Acquisition), a 60%-owned company of YMMDC, from its joint venture partner, for an aggregate consideration of RMB4 million. Following the Acquisition, YMMDC and Guangzhou Tongju hold respectively 90% and 10% equity interests in Shanghai Jidian, thereby making the latter a wholly-owned subsidiary of YMMDC.
The consideration for the Acquisition was arrived at on a willing-buyer willing-seller basis and computed based on the net book value of Shanghai Jidian. The consideration was satisfied in cash and funded through internal sources.
By Order of the Board
HONG LEONG ASIA LTD.
Ng Siew Ping, Jaslin
Company Secretary
10 February 2014
Singapore
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