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Restructuring And Change Of Name Of Subsidiaries
BackJul 01, 2015
| Announcement Title | General Announcement |
| Announcement Subtitle | RESTRUCTURING AND CHANGE OF NAME OF SUBSIDIARIES |
| Securities | UNI-ASIA HOLDINGS LIMITED (UNI-ASIA) |
| Date & Time of Broadcast | Jul 1, 2015 17:11 |
| Submitted By | Lim Kai Ching Group CFO |
| Effective Date and Time | Jul 1, 2015 17:00 |
| Description | The Board of Directors of Uni-Asia Holdings Limited (the "Company" and together with its subsidiaries, the "Group") wishes to announce the restructuring and change of name of the following subsidiaries with effect from 1 July 2015: (a) Uni-Asia Capital (Japan) Ltd. ("UACJ"), a 99.5% owned subsidiary of the Company, has been designated as the Group's investment holding arm and has changed its company name to Uni-Asia Investment Ltd; and (b) Uni-Asia Finance Corporation (Japan) ("UAFJ"), a wholly-owned subsidiary of the Company, has been designated as the Group's investment advisory and asset management arm and has changed its company name to Uni-Asia Capital (Japan) Ltd. The restructuring and name change were undertaken in connection with the streamlining of the corporate structure of the Group. In connection with the restructuring, UAFJ has filed an increased in its issued and paid-up capital from JPY50 million to JPY100 million by issuing 100 ordinary shares of JPY500,000 per share to the Company on 1 July 2015. The consideration of JPY50 million for the 100 shares of UAFJ was determined by taking into account the required amount of capital increase of UAFJ and will be satisfied by the Company's internal funds. Prior to the restructuring and name change, UACJ was the Group's property investment and management arm in Japan while UAFJ was involved in the management of the Group's shipping business in Japan. In conjunction with UAFJ's designation as the Group's investment advisory and asset management arm, UAFJ has also applied for and obtained the following licences in Japan: (i) comprehensive real estate investment advisory business licence; and (ii) financial instruments business licences for (1) Type II financial instruments (which relate to sales and purchase, intermediary, brokerage or agency service of financial products); (2) investment advisory and agency business; and (3) investment management business. |
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