General announcement
OTHERS
INTERNAL RESTRUCTURING
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Protasco Berhad (“Protasco”) wishes to announce that Protasco Group has restructured HCM KI Engineering Sdn Bhd (“HCM KI”), a dormant company, which was 40% owned by the subsidiary of the Company, HCM Engineering Sdn Bhd.
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Following the restructuring exercise, HCM KI, which is now known as Solarcap Sdn Bhd is 68% owned by Ikram Greentech Sdn Bhd, a wholly-owned subsidiary of the Company and will be venturing into renewable energy business.
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The restructuring is not expected to have any material effect on the net assets and earnings of Protasco Group for the financial year ending 31 December 2019.
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GA1-26072019-00062