JAYCORP NOW OWNS 83% OF INSTYLE SOFA
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.