| Announcement Title | Asset Acquisitions and Disposals |
| Announcement Subtitle | ESTABLISHMENT OF NEW SUBSIDIARY IN SOUTH KOREA TO PROMOTE SHIP-RELATED SERVICES |
| Securities | UNI-ASIA HOLDINGS LIMITED (UNI-ASIA) |
| Date & Time of Broadcast | Jun 8, 2015 18:01 |
| Submitted By | Lim Kai Ching Group CFO |
| Effective Date and Time | Jun 8, 2015 17:00 |
| Description | The Board of Directors of Uni-Asia Holdings Limited (the "Company") is pleased to announce that the Company has established a new wholly owned subsidiary in South Korea known as Uni Ships and Management Korea Ltd. ("Uni Ships Korea") to promote the Company's ship-related services in South Korea. 1. Uni Ships and Management Korea Ltd. Uni Ships Korea completed the business registration to operate its business on 3 June 2015. Prior to this, Uni Ships Korea was registered on 29 April 2015 in Seoul, South Korea, with paid-up share capital of Korean Won 100,000,000. The paid-up share capital of Uni Ships Korea was internally funded and has been paid in cash in full on 28 April 2015. All the shares issued by Uni Ships Korea are owned by Uni Ships and Management Limited ("Uni Ships"), which is a wholly owned subsidiary of the Company. The directors of Uni Ships Korea are Mr. Michio Tanamoto, Mr. Masaki Fukumori and Mr. Antonio Park. Mr. Michio Tanamoto and Mr. Masaki Fukumori are Directors of the Company and Mr. Antonio Park will be appointed as General Manager of Uni Ships Korea. 2. Chapter 10 of the SGX-ST Listing Manual. The establishment of Uni Ships Korea is for the purpose of promoting the Company's ship-related services in South Korea which are in the ordinary course of the Company's business. In view of the foregoing, the establishment of Uni Ships Korea would not constitute a "transaction" for the purpose of Chapter 10 of the Singapore Exchange Securities Trading Limited Listing Manual. 3. Interests of Directors and Controlling Shareholders. Save as disclosed herein, none of the Directors and controlling shareholders of the Company has any interest, direct or indirect, in the establishment of Uni Ships Korea. 4. Details of Uni Ships and Management Korea Ltd. Contact details of Uni Ships Korea are set out as below: Address : 27 Floor, West Tower, Center 1 Building, 26 Euljiro 5 Gil, Jung-Gu, Seoul 100-210, Korea Telephone : +822 60308722 Person-in-charge : Mr. Antonio Park, General Manager, Uni Ships and Management Korea Ltd. |
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