1.         INTRODUCTION

The Board of Directors of LYC wishes to announce that the Company had on 28 February 2024, incorporated a wholly owned subsidiary known as HTAR Sdn Bhd [Registration No. 202401007959 (1553809-T)] (“HTAR”).

2.        INFORMATION ON HTAR

HTAR was incorporated on 28 February 2024 as a private limited company by shares in Malaysia under the Companies Act 2016. The share capital of HTAR as at the date of this announcement is Ringgit Malaysia One Thousand Only (RM1,000.00) comprising One Thousand (1,000) ordinary shares. The Company holds One Thousand (1,000) shares for Ringgit Malaysia One Thousand only (RM1,000.00), representing One Hundred percent (100%) shareholding of HTAR.

The intended principal activities of HTAR is investment holding company. 

The current director of HTAR is Mr Sui Diong Hoe.

3.         RATIONALE

The incorporation of HTAR is to invest in dental, aesthetic and prostate operation.

5.         FINANCIAL EFFECT OF THE INCORPORATION OF HTAR

The incorporation of HTAR does not have any effect on the share capital and substantial shareholders’ shareholdings of LYC. It is also not expected to have any material effect on the net assets, gearing and earnings of LYC for the financial year ending 31 March 2024.

6.         DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS

Save for Mr Sui Diong Hoe, none of the Directors and/or major shareholders of LYC or persons connected with them, have any direct or indirect interest in the incorporation of HTAR.

This announcement is dated 29 February 2024.