JAYCORP NOW OWNS 83% OF INSTYLE SOFA

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: Jaycorp Bhd has sub­scribed for an ad­di­tional 4 mil­lion new or­di­nary shares of RM1 each of the en­larged is­sued and paid-up share cap­i­tal of Instyle Sofa Sdn Bhd for RM4 mil­lion. In its fil­ing with Bursa Malaysia last Fri­day, Jaycorp said the sub­scrip­tion would be strate­gic and ben­e­fi­cial to the group for its ex­pan­sion into man­u­fac­tur­ing of sofa sets, bed sets, chairs and up­hol­stery works. Sub­se­quent to the sub­scrip­tion, Instyle Sofa be­comes a 83%-owned sub­sidiary of Jaycorp. It closed higher 0.68% or 1 sen at RM1.47 last Fri­day, with some 673,500 shares traded.

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