Asset Acquisitions and Disposals::INCORPORATION OF NEW SUBSIDIARY - SG IPF PTE. LTD.

Issuer & Securities

Announcement Title: Asset Acquisitions and Disposals
Date &Time of Broadcast: 30-Apr-2014 17:12:24
Status: New
Announcement Sub Title: INCORPORATION OF NEW SUBSIDIARY - SG IPF PTE. LTD.
Announcement Reference: SG140430OTHRS67B
Submitted By (Co./ Ind. Name): Andrew Cheong Fook Onn
Designation: Joint Company Secretary
Description (Please provide a detailed description of the event in the box below): SATS Ltd. (the "Company") wishes to announce that its wholly-owned subsidiary, Singapore Food Industries Pte. Ltd., has on 30 April 2014, incorporated a company SG IPF Pte. Ltd. ( SGIPF ). SGIPF is set up primarily as an investment holding company with an initial issued and paid up share capital of S$2 consisting of 2 shares of S$1 each.

The above transaction is not expected to have any material impact on the Company's net tangible assets and consolidated earnings per share for the current financial year.

None of the Directors or controlling shareholders of the Company has any interest, direct or indirect, in the above transaction, other than through their respective interests (if any) in the Company.