Incorporation of new wholly-owned subsidiary in Taiwan
SINGAPORE,
14 December 2007 - Mainboard
listed Teckwah Industrial Corporation
("Teckwah" or "the
Group") today announced that wholly-owned subsidiary, Teckwah Value Chain Pte. Ltd, has subscribed for 100% of the equity of Teckwah Value Chain (Taiwan) Ltd, ("TVCTL"), a company incorporated under the laws and regulations of the Republic of China.
The registered capital of TVCTL is NT$5,000,000. TVCTL is engaged in the business of providing third party services and value chain management services.
The incorporation of TVCTL is not expected to have material effect on the consolidated net tangible assets per share and the consolidated earnings per share of Teckwah Group based on the audited consolidated accounts of the Teckwah Group for the current financial year.
None of the directors or substantial shareholders of the Company has any interest, direct or indirect, in the incorporation of TVCTL.
