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349

UEM EDGENTA BERHAD

2016 ANNUAL REPORT

ABOUT

UEM EDGENTA

STRIVING

FOR GROWTH

PERFORMANCE

REVIEW

CORPORATE

FRAMEWORK

LEADERSHIP

SUSTAINABILITY

STATEMENT

TRANSPARENCY

FINANCIAL

REVIEW

ACCOUNTABILITY

45. SIGNIFICANT EVENTS (CONT’D.)

(f) On 3 October 2016, the members’ voluntary winding-up of OIL, a wholly-owned subsidiary of Opus Group Berhad,

which in turn is a wholly-owned subsidiary of the Company, has been completed and accordingly is no longer an

indirect subsidiary of the Company.

(g) On 1 November 2016, the Company acquired two (2) ordinary shares of RM1.00 each representing the entire

issued and paid-up capital of Edgenta Energy Projects for a total cash consideration of RM2.00. Following the

transaction, Edgenta Energy Projects became a wholly-owned subsidiary of the Company. Edgenta Energy Projects

was incorporated on 20 October 2016 with an intended principal activity of providing energy management services

and renewable energy services, through capital investment.

On 25 November 2016, Edgenta Energy Projects, increased its issued and paid-up share capital from RM2.00 to

RM0.8 million by way of an issue of 749,998 new ordinary shares of RM1.00 each fully paid at par value of cash.

(h) On 17 November 2016, a Final Meeting of the members’ voluntary liquidation of Renown Alliance Sdn. Bhd.

(“Renown Alliance”), a wholly-owned subsidiary of the Company was duly held. As such, Renown Alliance shall be

dissolved and cease to be a subsidiary of the Company with effect from 17 February 2017, which is upon the

expiration of three (3) months after the lodgement of a return of the final meeting with the Companies Commission

of Malaysia.

(i) On 15 December 2016, Edgenta Singapore, a wholly-owned subsidiary of the Company completed the acquisition

of the entire issued and paid-up share capital of AIFS group for a total cash consideration of SGD191.9 million

(RM595.0 million). Accordingly, AIFS and its subsidiaries are now indirect wholly-owned subsidiaries of the

Company.

46. SUBSEQUENT EVENT

(a) On 17 February 2017, Renown Alliance was dissolved by way of members’ voluntary liquidation and ceased to be

a subsidiary of the Company.

(b) On 15 March 2017, the Company had lodged with Securities Commission Malaysia the required information and

relevant documents relating to the proposed issuance of Islamic Commercial Papers (“ICP Programme”) and Islamic

Medium Term Notes (“IMTN Programme”) with a combined aggregrate limit of up to RM1,000.0 million in nominal

value and a sub-limit of RM300.0 million in nominal value for the ICP Programme under the Shariah principle of

Murabahah via a Tawarruq arrangement (collectively, the ICP Programme and IMTN Programme shall be referred

to as the “SUKUK Programmes”). The proceeds raised from the SUKUK Programmes shall be utilised by the

Company for its Shariah-compliant general corporate purposes.