Syarikat Taka­ful in­cor­po­rates sub­sidiary

The Star Malaysia - StarBiz - - News -

PETALING JAYA: Syarikat Taka­ful Malaysia Bhd (STMB) has in­cor­po­rated a wholly owned sub­sidiary, Syarikat Taka­ful Malaysia Am Bhd (STMAB), un­der the Com­pa­nies Act 2016 as part of its pro­posed re­or­gan­i­sa­tion.

STMB told the stock ex­change yes­ter­day that while STMAB is cur­rently dor­mant, its prin­ci­pal ac­tiv­ity is to un­der­take the gen­eral taka­ful busi­ness op­er­ated by STMB upon com­ple­tion of the ex­er­cise (pro­posed re­or­gan­i­sa­tion).

STMB had pre­vi­ously an­nounced that the fam­ily taka­ful busi­ness would con­tinue to be per­formed by the com­pany un­der a pro- posed new name called Syarikat Taka­ful

Malaysia Kelu­arga Bhd.

As at the date of an­nounce­ment, STMAB’s is­sued share cap­i­tal stood at RM1, com­pris­ing five or­di­nary shares, which were is­sued at 20 sen each.

The in­cor­po­ra­tion of STMAB will not have any ma­te­rial im­pact on STMB’s share cap­i­tal, sub­stan­tial share­hold­ers’ share­hold­ings, earn­ings, net as­sets and gear­ing.

None of the di­rec­tors or ma­jor share­hold­ers of STMB and/or per­sons con­nected with them have any di­rect or in­di­rect in­ter­est in the in­cor­po­ra­tion of STMAB.

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