Announcement Details/Table Section :
1.INTRODUCTION
The Board of Directors of DCB wishes to announce that Daya Petaling Sdn Bhd, a wholly-owned subsidiary of the Company, has on 8 January 2013 disposed of its entire equity interest comprising 100,000 ordinary shares of par value RM1.00 each in Reka Bahagia Sdn Bhd (Company No. 175359-A) ("RBSB") for a total cash consideration of RM2.00 only ("Disposal").
The Disposal consequently results in RBSB ceasing to be an indirect wholly-owned subsidiary of the Company.
2.INFORMATION ON RBSB
RBSB was incorporated in Malaysia on 28 October 1988 as a private company limited by shares under the Companies Act, 1965. The authorised capital and issued and paid up share capital of RBSB is RM100,000.00 divided into 100,000 ordinary shares of RM1.00 each.
RBSB is currently dormant and has no intention to re-commence operations.
3.RATIONALE
The Disposal is a divestment of a non-operating subsidiary.
4.EFFECTS OF THE DISPOSAL
The Disposal does not have any effect on the issued and paid-up share capital or the substantial shareholders' shareholdings of DCB. The Disposal is not expected to have any material effect on the net assets and earnings, and is not expected to have any effect on the gearing of DCB Group for the current financial year ending 31 December 2013.
The Disposal is not subject to the approval of the shareholders of DCB or any other relevant authorities.
None of the Directors, major shareholders of DCB or its subsidiaries and/or persons connected with them, has any interest, direct or indirect, in the Disposal.
This announcement is dated 8 January 2013.
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