SETTING UP OF A SUBSIDIARY
The Board of Directors of Metro Holdings Limited ("Metro" or the "Company") wishes to announce that Metrobilt Construction Pte Ltd, a wholly-owned subsidiary of Metrobilt Pte Ltd, has set up a 90% owned-subsidiary by the name of P.T. Metro Bekasi Investment ("P.T. Metro Bekasi"). Metrobilt Pte Ltd is a wholly-owned subsidiary of the Company. The balance 10% is held by an independent and unrelated party.
The principal activity of P.T. Metro Bekasi is that of property investment and it has an authorised capital of IDR1,000 billion.
The setting up of P.T. Metro Bekasi is not expected to have any significant effect on the consolidated net tangible assets per share and consolidated earnings per share of the Metro Group for the current financial year ending 31 March 2018.
None of the Directors or controlling shareholders of the Company (to the best of the knowledge of the Company) has any interest, direct or indirect, in the above matter other than through their shareholding interests in the Company.
BY ORDER OF THE BOARD
Tan Ching Chek and Lee Chin Yin Joint Company Secretaries
Dated: 19 October 2017