Incorporation Of Direct Wholly-Owned Subsidiary
Feb 14, 2012
|Acquisitions and Disposals||
|Description||The Board of Directors of TEHO INTERNATIONAL INC. LTD. (the "Company") wishes to announce the incorporation of a direct wholly-owned subsidiary company in Shanghai, China, under the name of TEHO (Shanghai) Co., Ltd (卓源贸易（上海）有限公司) ("TSCL").
The registered capital of TSCL will be US$250,000, subject to the approval from the relevant authorities in China.
The principal activity of TSCL is to supply mooring and rigging products as well as the provision of related services.
In connection with the above, Mr Anthony Tok Kah Eng has been appointed as the legal representative of TSCL. Mr Tok will oversee the business operations and development of TSCL in China.
The incorporation of TSCL will be funded through internal resources and is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Group for the current financial year.
None of the Directors and controlling shareholders of the Company has any interest, direct or indirect, in the above transaction other than through their shareholdings in the Company.
BY ORDER OF THE BOARD
Lim See Hoe
Executive Chairman and Chief Executive Officer
14 February 2012
This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, Collins Stewart Pte. Limited for compliance with the relevant rules of the SGX-ST. Collins Stewart Pte. Limited has not independently verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement.
The contact person for the Sponsor is Mr Alex Tan, Managing Director, Corporate Finance, Collins Stewart Pte. Limited at 77 Robinson Road #21-02 Singapore 068896, telephone (65) 6854 6160.