General Announcement::Announcement by Subsidiary - Entry into JV Agreement and Establishment of JV Company

Issuer & Securities

Issuer/ Manager
IFS CAPITAL LIMITED
Securities
IFS CAPITAL LIMITED - SG1A35000706 - I49
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
13-May-2024 22:54:21
Status
New
Announcement Sub Title
Announcement by Subsidiary - Entry into JV Agreement and Establishment of JV Company
Announcement Reference
SG240513OTHRGUO4
Submitted By (Co./ Ind. Name)
Chionh Yi Chian/Angeline Ng
Designation
Company Secretary/Assistant Company Secretary
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of IFS Capital Limited (the "Company" and together with its subsidiaries, the "Group") refers to the announcement released on 1 March 2024 in relation to the announcement issued by the Company's subsidiary, IFS Capital (Thailand) Public Company Limited ("IFS Thailand") of its intention to enter into a joint venture and establishing a joint venture company with Susco Public Company Limited, a listed company on the Stock Exchange of Thailand ("SUSCO").

IFS Thailand has on 13 May 2024 issued a further announcement on the signing of a Joint Venture Agreement with SUSCO and a joint venture company ("JV Company") has been incorporated to carry out the business of financial services. Details of the joint venture and the JV Company can be found in the attached announcement issued by IFS Thailand.

The joint venture is not expected to have any material impact on the earnings per share or net tangible assets per share of the Group for the financial year ending 31 December 2024.

As at the date of this announcement, none of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the joint venture, other than by reason of their respective shareholding interest in the Company, where applicable.


By the Order of the Board
Chionh Yi Chian / Angeline Ng
Company Secretary / Assistant Company Secretary
13 May 2024

Attachments

IFST_Notification of Signing a JV agreement and Establishing a JV company.pdf
Total size =82K