General Announcement::RESTRUCTURING AND CHANGE OF NAME OF SUBSIDIARIES

Issuer & Securities

Issuer/ Manager
UNI-ASIA HOLDINGS LIMITED
Securities
UNI-ASIA HOLDINGS LIMITED - KYG9241B1169 - AYF
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
01-Jul-2015 17:11:10
Status
New
Announcement Sub Title
RESTRUCTURING AND CHANGE OF NAME OF SUBSIDIARIES
Announcement Reference
SG150701OTHR1W8F
Submitted By (Co./ Ind. Name)
Lim Kai Ching
Designation
Group CFO
Effective Date and Time of the event
01/07/2015 17:00:00
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Uni-Asia Holdings Limited (the "Company" and together with its subsidiaries, the "Group") wishes to announce the restructuring and change of name of the following subsidiaries with effect from 1 July 2015:

(a) Uni-Asia Capital (Japan) Ltd. ("UACJ"), a 99.5% owned subsidiary of the Company, has been designated as the Group's investment holding arm and has changed its company name to Uni-Asia Investment Ltd; and

(b) Uni-Asia Finance Corporation (Japan) ("UAFJ"), a wholly-owned subsidiary of the Company, has been designated as the Group's investment advisory and asset management arm and has changed its company name to Uni-Asia Capital (Japan) Ltd.

The restructuring and name change were undertaken in connection with the streamlining of the corporate structure of the Group.

In connection with the restructuring, UAFJ has filed an increased in its issued and paid-up capital from JPY50 million to JPY100 million by issuing 100 ordinary shares of JPY500,000 per share to the Company on 1 July 2015. The consideration of JPY50 million for the 100 shares of UAFJ was determined by taking into account the required amount of capital increase of UAFJ and will be satisfied by the Company's internal funds.

Prior to the restructuring and name change, UACJ was the Group's property investment and management arm in Japan while UAFJ was involved in the management of the Group's shipping business in Japan.

In conjunction with UAFJ's designation as the Group's investment advisory and asset management arm, UAFJ has also applied for and obtained the following licences in Japan:

(i) comprehensive real estate investment advisory business licence; and

(ii) financial instruments business licences for (1) Type II financial instruments (which relate to sales and purchase, intermediary, brokerage or agency service of financial products); (2) investment advisory and agency business; and (3) investment management business.

Attachments

Uni-Asia-2015-07-01 Restructuring and Change of Name of Subsidiaries.pdf
Total size =93K