The Board of Directors (the “Board”) of SUTL Enterprise Limited (the “Company”) wishes to announce that on 22 June 2017, its wholly-owned subsidiary SUTL Marina Holdings Pte Ltd has incorporated a wholly-owned subsidiary in Malaysia, SUTL Marina Holdings Sdn. Bhd. (“SMHSB”), with an initial issued and paid-up share capital of MYR 100 divided into 100 ordinary shares of issue price MYR 1 each.
SMHSB is an investment holding company. The incorporation of SMHSB was funded by internal resources and is not expected to have any material impact on the consolidated net tangible assets per share or earnings per share of the Company for the financial year ending 31 December 2017.
None of the directors or controlling shareholders of the Company has any interest, direct or indirect in the above action, save through their shareholdings in the Company